Economic Advisor and Economist
Areas of Expertise
Makoto Nakajima’s research on labor, housing, and consumer credit contributes to better policy decisions by expanding our knowledge of the U.S. economy that is built around consumers. He focuses mainly on how income and wealth inequality can disrupt macroeconomic dynamics.
Makoto has published research on the role home equity plays in retirees’ savings and how monetary policy affects segments of the consumer sector differently. Prior to joining the Bank, he was an assistant professor of economics at the University of Illinois, Urbana–Champaign.
Makoto has a Ph.D. in economics from the University of Pennsylvania and a bachelor’s degree in international relations from the University of Tokyo.