Austan Goolsbee

Austan Goolsbee is a University of Chicago economics professor who served as chairman of President Obama's Council of Economic Advisers from 2010 to 2011. He became president of the Federal Reserve Bank of Chicago in 2023. Goolsbee is known for his accessible communication style — using humor, social media, and straightforward language to explain complex monetary policy. He has research expertise in tax policy, technology and the digital economy, and labor markets. His background combines academic economics with high-profile government policy experience. His academic research includes influential work on consumer behavior, internet commerce, and the economics of taxation. At the CEA, he played a key role in communicating the Obama administration's economic recovery strategy during the aftermath of the 2008 financial crisis. He is an active FOMC participant known for data-dependent and thoughtful analysis of economic conditions. His tenure at the Chicago Fed coincided with the final stages of the Fed's aggressive rate-hiking cycle, and he became known for skepticism about the need for further rate hikes once inflation showed signs of declining. His approachable communication style — including frequent media appearances and social media engagement — has made him one of the more publicly visible regional Fed presidents in recent years.