Lael Brainard took office as the vice chair of the Board of Governors of the Federal Reserve System on May 23, 2022, for a four-year term. Brainard has served as a member of the Board of Governors of the Federal Reserve System since taking office on June 16, 2014, to fill an unexpired term ending January 31, 2026. From 2009 through 2013, Brainard served as under secretary of the US Department of the Treasury and counselor to the secretary of the Treasury, where she received the Alexander Hamilton Award. During this time, she was the US representative to the G-20 finance deputies and G-7 deputies and was a member of the Financial Stability Board. Before that, Brainard was vice president and the founding director of the Global Economy and Development Program. Previously, Brainard served as the deputy national economic adviser and deputy assistant to the president and G-7 sherpa. From 1990 to 1996, she was assistant and associate professor of applied economics at the Massachusetts Institute of Technology Sloan School of Management. She is the recipient of the Harvard Centennial Medal and the White House Fellowship. Brainard received a bachelor’s degree with university honors from Wesleyan University and a master’s degree and doctoral degree in economics from Harvard University, where she was awarded a National Science Foundation Graduate Research Fellowship.