Federal Reserve Governor Urges New Graduates to Embrace Determination in Economics

At a recent commencement address to the economics graduates at the University of California, Berkeley, a Federal Reserve Governor shared her personal reflections on the journey from graduate to policymaker, emphasizing the enduring importance of expertise, conviction, and active engagement in shaping economic debate.

Drawing on her own experience as a Berkeley alumna, the speaker encouraged graduates to trust their instincts and embrace a healthy impatience to tackle urgent challenges facing society. She highlighted the evolving nature of economics, likening fundamental economic principles to California’s enduring landmarks, while reminding new economists that their skills are only valuable if actively applied in real-world decision-making. Addressing current uncertainties in academia and public service, she called for resilience and determination, insisting that expertise remains critical in an era of information overload and disinformation. Graduates were urged to help uphold economic knowledge and participate energetically in the "marketplace of ideas," advancing prosperity and public debate for the benefit of society.

This message serves as a timely reminder that, while the world of economics continually changes, the contributions of well-prepared and determined experts are vital to meeting today’s complex challenges and shaping a better economic future.