Zoltan Pozsar

Zoltan Pozsar, a senior adviser at the U.S. Department of the Treasury, is an expert on global macroeconomic affairs, central banking and finance.

At Treasury, Mr. Pozsar is responsible for developing the framework to monitor risk and collateral intermediation activities in the financial eco-system and evaluate their impact on macro-financial conditions. He also serves as Treasury’s liaison to the Financial Stability Board (FSB) on matters of financial innovation.

Mr. Pozsar has been deeply involved in the response to the global financial crisis and the ensuing policy debate. At the Federal Reserve Bank of New York, he played a key role in gathering market intelligence for the FOMC, led the effort that backstopped securitization markets in the aftermath of Lehman, and pioneered the mapping and understanding of the shadow banking system. At the International Monetary Fund (IMF) he crafted policy responses to shadow banking. He consulted G7 policymakers and various G20 working groups.

Mr. Pozsar has written extensively on the global economy, shadow banking, wholesale funding and Treasury debt management. More recently he co-authored with Paul McCulley on the changing role of fiscal and monetary policy in a liquidity trap. His work has served as the basis of policy initiatives and was cited in the Financial Times and The Economist.

Before joining the official sector, Mr. Pozsar was a U.S. macroeconomist. He is a founding member of the Shadow Banking Colloquium of the Institute for New Economic Thinking (INET); a visiting scholar at the Global Interdependence Center; and a senior adviser on European affairs to Oriens Investment Management, a CEE-focused merchant bank in Hungary.

Mr. Pozsar and his wife Elena Liapkova-Pozsar, an emerging markets portfolio manager, live in New York.