Masters in Business Richmond Federal Reserve President and CEO Tom Barkin
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May 30, 2025 Tom Barkin, President and CEO of the Richmond Federal Reserve, shares his insights after three decades at McKinsey and a shift into public service. He dives into the complexities of US monetary policy, the impact of COVID-era fiscal measures on inflation, and the unequal recovery of urban versus rural economies. Additionally, Barkin discusses the evolving role of ETFs in finance and how remote work is reshaping real estate markets. With anecdotes linking golf to economic discussions, he balances serious topics with a lighter touch.
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Career Shift to Economics
- Tom Barkin switched from intending to study law to economics because he found economics combined multiple interests.
- His shift to economics helped him later transition from law school to business school confidently.
McKinsey Career Highlights
- Tom Barkin worked 30 years at McKinsey, holding roles like Chief Risk Officer and CFO.
- He steered McKinsey through challenges such as 9-11 and the financial crisis successfully.
Fed's Unique Private-Mission Mix
- Barkin finds Federal Reserve attractive for its mission-driven private-sector structure.
- He regularly visits businesses to understand real economic conditions firsthand.
