Joseph E. Gagnon, senior fellow since September 2009, was visiting associate director, Division of Monetary Affairs (2008-09) at the US Federal Reserve Board. Previously he served at the US Federal Reserve Board as associate director, Division of International Finance (1999-2008), and senior economist (1987-1990 and 1991-97). He has also served at the US Treasury Department (1994-95 and 1997-1999) and has taught at the Haas School of Business, University of California, Berkeley (1990-91).