Martin Baily is a senior fellow in the Economic Studies Program at The Brookings Institution, where he holds the Bernard L. Schwartz Chair in Economic Policy Development. Baily rejoined Brookings in September 2007 to develop a program of research on business and the economy. He is studying growth, innovation, financial reform and how to speed the recovery. He is a senior advisor to the McKinsey Global Institute and a senior director of Albright Stonebridge Group. He is a member of the Squam Lake Group of financial economists and a director of The Phoenix Companies of Hartford, CT.
In August 1999 Baily was appointed as chairman of the Council of Economic Advisers. As chairman, Baily served as economic adviser to the President, was a member of the President’s Cabinet and directed the staff of this White House agency. He completed his term as chairman on January 19, 2001. Baily previously served as one of the three members of the President’s Council of Economic Advisers from October 1994 until August 1996.
Baily has served as a senior advisor to the McKinsey Global Institute for many years and was an adviser to the Congressional Budget Office from 2006-09. He was also chair of the Pew Task Force on Financial Reform. Baily was a principal at McKinsey & Company at the Global Institute in Washington, D.C. from September 1996 to July 1999 and from 2001 to 2007 he was a senior fellow at the Peterson Institute where he published books on the European economy and on pension reform.
Baily earned his Ph.D. in economics in 1972 at the Massachusetts Institute of Technology. After teaching at MIT and Yale, he became a senior fellow at The Brookings Institution in 1979 and a professor of economics at the University of Maryland in 1989. He is the author of many professional articles and books, testifies regularly to House and Senate committees and is often quoted in the press.