Tobias Adrian is the Financial Counsellor and the Director of the Monetary and Capital Markets Department at the International Monetary Fund. Before joining the IMF in January 2017, he served as Senior Vice President and Associate Director of Research at the Federal Reserve Bank of New York, where he helped lead the New York Fed’s work on financial stability policy and monetary policy. He had earlier conducted economic research at the National Bureau of Economic Research in Cambridge, Massachusetts and at the Centre for European Policy Studies in Brussels. He earned his Ph.D. in economics from the Massachusetts Institute of Technology and his M.Sc. from the London School of Economics and Political Science. He also earned postgraduate degrees from Goethe University in Frankfurt and from Dauphine University in Paris. He has taught economics at MIT, Princeton University, and New York University. His economic analyses have been published in such scholarly journals as the American Economic Review, the Journal of Financial Economics, and the Journal of Finance.