Leadership Team

Douglass

Stephen J. Douglass

Chief Economist

Committees: Member, Global Investment Committee

NISA’s Chief Economist and Global Investment Committee member, Stephen Douglass, analyzes the global economy, monetary and fiscal policy as well as interest rate markets. He is a thought leader regularly featured on NISA webinars and author of Perspectives, as well as a resource for NISA clients.

Stephen joined NISA in 2016. Prior to that, he was a trader/analyst at the Federal Reserve Bank of New York, where he analyzed U.S. interest rate markets and helped manage the Fed’s multi-trillion dollar portfolio of Treasury securities. He has previous experience as a trader at a multi-strategy hedge fund. Stephen earned a BA in Mathematical Economics from Colgate University, an MBA from INSEAD and an MA in International Economics from Johns Hopkins University School of Advanced International Studies.

To subscribe to Stephen’s and other NISA thought leaders’ content, email [email protected].

Recent Perspectives

BLS Survey Response Rates

Hiring Rebounds Strongly in Volatile JOLTS Data

Hiring rebounded strongly in March, easing the concerns we had expressed about the low reading in February. The private sector hires rate rose from a cycle low to a two-year...

May 2026

Personal Saving Rate with footnote

Saving Rate Dives to Cycle Low

New personal income and spending data released this week highlight a point that we discussed during our recent economic webinar. Real disposable income declined by 0.1% in March–the second consecutive...

May 2026

FOMC Dissents

Chairman Powell Retreats to the Shadows

In what was likely the final meeting under Chairman Powell’s leadership, the FOMC left their policy rate unchanged today as expected. In recognition of the extreme uncertainty surrounding the war and energy prices, Powell declined to send any strong signals about the future path of monetary...

April 2026