John Brian Taylor (born December 8, 1946) is the Mary and Robert Raymond Professor of Economics at Stanford University, and the George P. Shultz Senior Fellow in Economics at Stanford University's Hoover Institution. He taught at Columbia University from 1973 to 1980 and the Woodrow Wilson School and Economics Department of Princeton University from 1980 to 1984 before returning to Stanford. He has received several teaching prizes and teaches Stanford's introductory economics course as well as PhD courses in monetary economics. In research published in 1979 and 1980 he developed a model of price and wage setting—called the staggered contract model—which served as an underpinning of a new class of empirical models with rational expectations and sticky prices—sometimes called new Keynesian models. In a 1993 paper he proposed the Taylor rule, intended as a recommendation about how nominal interest rates should be determined, which then became a rough summary of how central banks actually do set them. He has been active in public policy, serving as the Under Secretary of the Treasury for International Affairs during the first term of the George W. Bush Administration. His book Global Financial Warriors chronicles this period. He was a member of the President's Council of Economic Advisors during the George H. W. Bush Administration and Senior Economist at the Council of Economic Advisors during the Ford and Carter Administrations. In 2012 he was included in the 50 Most Influential list of Bloomberg Markets Magazine. Thomson Reuters lists Taylor among the "citation laureates" who are likely future winners of the Nobel Prize in Economics. He was president of the Mont Pelerin Society (a neoliberal economic think tank) from 2018 to 2020. Early life and education Born in Yonkers, New York, Taylor graduated from Shady Side Academy and earned his AB in economics from Princeton University in 1968 after completing a senior thesis titled "Fiscal and Monetary Stabilization Policies in a Model of Cyclical Growth". He then earned his PhD in economics from Stanford University in 1973. Academic contributions Taylor's research—including the staggered contract model, the Taylor rule, and the construction of a policy tradeoff (Taylor) curve employing empirical rational expectations models—has had a major impact on economic theory and policy. Former Federal Reserve Chairman Ben Bernanke has said that Taylor's “influence on monetary theory and policy has been profound,” and Federal Reserve Chair Janet Yellen has noted that Taylor's work “has affected the way