Leadership Team

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Stephen J. Douglass

Senior Economic Strategist

Committees: Member, Investment Committee

Stephen is a Senior Economic Strategist in the Fixed Income and Derivatives Portfolio Management Group and a member of NISA’s Investment Committee. Stephen conducts analysis on the global economy, monetary and fiscal policy and interest rate markets. He is a member of the team responsible for communicating economic, market and portfolio-related information to clients and is a frequent contributor to NISA’s blog perspectives and other thought pieces.

Stephen joined NISA in 2016. Prior to NISA, 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 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 SAIS.

Recent Perspectives

The Boogieman in the Fed's Closet

The Boogieman in the Fed’s Closet

A terrifying specter has reappeared in the darkest corners of the Eccles building. For the first time in 40 years, the Federal Reserve faces a material risk that inflation expectations...

November 2022

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Back to School with Mr. Powell

Like so many K-12 teachers having to remind their students about the lessons they forgot over the summer, Federal Reserve Chairman Jay Powell’s speech in Jackson Hole last week was...

August 2022

Manic Monday

Jay Powell’s Manic Monday

After two years of pandemic firsts, we thought we’d used the adjective “unprecedented” for the last time in this cycle. Then the Federal Reserve did something on Monday that we’ve...

June 2022