Daniel Thornton was vice president and economic advisor at the Federal Reserve Bank of St. Louis before retiring in 2014. Prior to joining the Federal Reserve Bank of St. Louis in 1981, Dr. Thornton was an associate professor of economics at Central Michigan University. Dr. Thornton has published widely in the Federal Reserve Bank of St. Louis Review and in leading economics and finance journals, such as the Journal of Money, Credit and Banking and the Journal of Financial Economics. He also has publications with the Cato Institute, several Cambridge University conference volumes and the Oxford Handbook of The Economics of Central Banking. Dr. Thornton ranks in the top 3 percent of economists worldwide by Research Papers in Economics (RePEc). He is a Research Fellow at the Centre for Finance and Credit Markets and the Hammond Institute for Free Enterprise, a member of the Central Bank Communication Network, a Senior Fellow at the National Center for Food and Agricultural Policy, and a member of the advisory board of the International Centre for Banking and Corporate Governance. He is an adjunct professor of the Universities of Nottingham and Tasmania and the IESEG School of Management in Paris. Since his retirement he has published eight papers in academic journals and has written numerous essays on a wide range of topics that can be found at dlthornton.com. Dr. Thornton received his Ph.D. in economics from the University of Missouri—Columbia and an M.S. in economics from Arizona State University.