Jay Shambaugh

Jay C. Shambaugh is an American academic, economist, and government official who has served as Under Secretary of the Treasury for International Affairs at the U.S. Department of the Treasury since January 2023.

Jay Shambaugh
Under Secretary of the Treasury for International Affairs
Assumed office
January 13, 2023
PresidentJoe Biden
Preceded byBrent McIntosh
Personal details
EducationYale University (BA)
Tufts University (MA)
University of California, Berkeley (PhD)

Education

Shambaugh earned a Bachelor of Arts degree from Yale University, a Master of Arts from Tufts University, and a PhD from the University of California, Berkeley.[1]

Career

Academic

Shambaugh has worked as an instructor at Dartmouth College and Georgetown University. He was also a visiting scholar at the International Monetary Fund. He was a research associate at the National Bureau of Economic Research and was a senior fellow at the Brookings Institution. From 2015 to 2017, Shambaugh was a staff economist on the Council of Economic Advisers.[2] He has since worked as a professor of economics and international affairs at the George Washington University and director of the Institute for International Economic Policy.[3] Shambaugh has appeared as a guest on NPR, where he has provided commentary on economic policy related to gig work.[4][5]

U.S. Department of the Treasury

In February 2022, Shambaugh was nominated to serve as under secretary of the treasury for international affairs.[6] He was confirmed by the United States Senate on December 13, 2022, by a vote of 70–27,[7] and he was sworn in by Secretary Janet Yellen on January 13, 2023.[8]

On April 18, 2023, Shambaugh in a speech at the Brookings Institution, Shambaugh provided the Treasury Department viewpoint on the state of the global economy.[9]

On July 26, 2023, Shambaugh testified to the U.S. Senate Foreign Relations Committee on international economic coercion and economic competitiveness.[10] Shambaugh's testimony focused on U.S. engagement with China and how Treasury uses its economic tools to promote U.S. national and foreign policy interests.[11]

References
  1. "President Biden Announces Key Nominees". The White House. 2022-02-25. Retrieved 2022-02-25.
  2. Shambaugh, Jay C. (2020-09-17). "Opinion | A $1.5 Trillion Compromise Democrats Can't Ignore". The New York Times. ISSN 0362-4331. Retrieved 2022-02-25.
  3. "Jay Shambaugh". elliott.gwu.edu. Retrieved 2022-02-25.
  4. "'We Can't Take Your Call': Uber Drivers, Other Gig Workers Struggle For Unemployment". NPR.org. Retrieved 2022-02-25.
  5. "'We Can't Take Your Call': Uber Drivers, Other Gig Workers Struggle For Unemployment". NPR.org. Retrieved 2022-02-25.
  6. Lawder, David (2022-02-25). "EXCLUSIVE Biden to nominate economist Shambaugh as U.S. Treasury's international chief". Reuters. Retrieved 2022-02-25.
  7. "On the Nomination (Confirmation: Jay Curtis Shambaugh, of Maryland, to be an Under Secretary of the Treasury)". US Senate. Retrieved 16 December 2022.
  8. Simendinger, Alexis; Karisch, Kristina (2023-01-13). "The Hill's Morning Report — Classified papers in Biden's home; special counsel investigating". The Hill. Retrieved 2023-01-18.
  9. "US Treasury Undersecretary Jay Shambaugh on the state of the global economy, including the global economic outlook and financial stability, Russia's war against Ukraine, the evolution of the multilateral development banks (MDBs), the climate agenda, the sovereign debt landscape, and the U.S. relationship with China". Brookings Institution. April 18, 2023.
  10. "U.S. ECONOMIC SECURITY: ADDRESSING ECONOMIC COERCION AND INCREASING COMPETITIVENESS". U.S. Senate Foreign Relations Committee. July 26, 2023.
  11. "Testimony of Under Secretary for International Affairs Jay C. Shambaugh Before the Committee on Foreign Relations, U.S. Senate". U.S. Department of the Treasury. July 26, 2023.
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