Leadership Team

Douglass Stephen 1645F Jun2022B 540x675 1

Stephen J. Douglass

Chief Economist

Committees: Member, Investment Committee

NISA’s Chief Economist and 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

US Imports By Source Country

Gradual Decoupling from China Began in 2018

By reducing the tariff rate on Chinese imports from 145% to 30%, President Trump significantly de-escalated his trade war and reduced the left-tail risk of a sudden forced decoupling from...

June 2025

JuneFOMCdotplot

Fed Maintains Wait-and-see Posture

The Federal Open Market Committee (FOMC) left the federal funds rate target unchanged today as expected, maintaining the wait-and-see posture they have adopted since trade policy uncertainty spiked in the...

June 2025

Atlanta Fed Wage Growth Tracker

The Returns to Job Switching Have Evaporated

In recent notes, we have highlighted elements of underlying weakness in an otherwise stable labor market. The Atlanta Fed released another such data point this week. Their Wage Growth Tracker...

June 2025

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