Narayana R. Kocherlakota was the 12th president of the Federal Reserve Bank of Minneapolis. Appointed in 2009, he joined the Federal Open Markets Committee in 2011. In 2012, he was named one of the top 100 Global Thinkers by Foreign Policy magazine. Much of his work focuses on optimal taxation and optimal unemployment insurance. Kocherlakota became the Lionel W. McKenzie Professor of Economics at the University of Rochester on January 1, 2016.
Kocherlakota's first faculty position was at the Kellogg School of Management at Northwestern University. He subsequently was a professor of economics at the University of Iowa, Stanford University, and the University of Minnesota. He served as the chair of the University of Minnesota's economic department from 2006 until 2008.
Kocherlakota entered Princeton University at age 15 and graduated with an A.B. in mathematics. He earned a Ph.D. in economics from the University of Chicago.