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Joseph Searle Tracy

Joseph Searle Tracy

Distinguished Fellow

Education

Ph.D., Economics, University of Chicago, 1984
Bachelor of Arts, Economics, University of Missouri, 1978

CV

Joseph S. Tracy joined Purdue's Daniels School of Business as a Distinguished Fellow in spring 2024. He is a nonresident senior fellow at the American Enterprise Institute (AEI). Previously he was executive vice president and senior advisor to the president at the Federal Reserve Bank of Dallas. He joined the Dallas Fed in September 2017 and retired in August 2022. Prior to joining the Dallas Fed, he was executive vice president and senior advisor to the president at the Federal Reserve Bank of New York. He also served as the Bank’s director of research. He joined the New York Fed in 1996 after appointments in the economics departments at Yale and Columbia universities. Joe is a native of Missouri and holds a BA from the University of Missouri and PhD in economics from the University of Chicago.

Working Papers

  • Kahn, Matthew and Tracy, Joseph "A Human Capital Theory of Who Escapes the Grasp of the Local Monopsonist." | Download |
  • CPI Consumer Price Index

    Will the CPI Inflation Report Instill Confidence?

    Investors, markets and the public will comb through today’s Consumer Price Index (CPI) inflation report released by the Bureau of Labor Statistics to see if details in the report shed any light on the future path for interest rates.

    Full story: Will the CPI Inflation Report Instill Confidence?

  • Purdue Daniels Financial Markets
    How Should the Fed Adjust its Policy Rate? Consider the Taylor Principle
    Monetary policy affects the economy through its real policy rate, not its nominal policy rate. The “real” policy rate takes inflation into consideration; the “nominal” policy rate does not consider inflation. How should the Fed adjust its nominal policy rate to changes in underlying inflation?