Fed’s top international finance staffer to step down next year

The Federal Reserve’s director of international finance is stepping down after service of 34 years at the central bank, the agency said Friday.

Steven B. Kamin, director of the Division of International Finance, will stand down from the position effective early next year, the Fed said. He will serve as a senior adviser to the division and will retire after a successor has transitioned into the role. The search for a successor will begin later this year, the Fed said.

As director, Kamin oversees the division’s work on monitoring and forecasting the global economy, analyzing key international issues such as movements in global financial and commodity markets, and supporting the Federal Reserve’s engagement with foreign central banks and international organizations such as the Group of Seven, Group of Twenty, and Bank for International Settlements (BIS), the Fed said.

The Fed noted that in 1995 Kamin was presented the Federal Reserve Board’s Special Achievement Award for his work on the Mexican financial crisis.

Steven B. Kamin, director of Division of International Finance, to step down from director role