C. Fred Bergsten

C. Fred Bergsten founded the Institute for International Economics in 1981 (later renamed the Peterson Institute) and directed it for over three decades. He previously served as assistant secretary of the Treasury for International Affairs under President Carter. Bergsten has been one of the most influential voices on US exchange rate policy, dollar management, and trade imbalances, testifying before Congress and advising multiple administrations. His work on "competitive currency devaluation" and trade deficits has shaped Washington's approach to international monetary negotiations. Bergsten was an early and persistent advocate for bringing China into the global trading system and for reforming the Special Drawing Rights framework to reduce global dependence on the dollar, positions that generated significant policy debate across multiple US administrations.