Former Fed Staffer Stockton Joins Macroeconomic Advisers

David Stockton, formerly a high-ranking staff member with the Federal Reserve Board, has joined forecasting firm Macroeconomic Advisers LLC as a senior adviser.

According to a press release issued by the closely watched forecasting firm, Stockton will be based in Washington. Stockton retired last autumn after serving as director of the division of research and statistics at the Fed. One of his chief responsibilities was leading the team that prepared economic briefings for Federal Open Market Committee meetings.

According to Macroeconomic Advisers, Stockton "will contribute to the monthly forecast rounds, help design alternative scenarios, and participate in all issues surrounding monetary policy prospects."

The firm is best known to financial markets for monthly report it compiles with payroll company Automatic Data Processing Inc. (ADP) on the employment market. It also counts former Fed governor Larry Meyer as a staffer.

-By Michael S. Derby, Dow Jones Newswires; 212-416-2214; michael.derby@dowjones.com

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