who is john b taylor 
john b taylor is the mary and robert raymond professor of economics at stanford university and a senior fellow of economics at the hoover institution he is also the director of stanford university introductory economics center1 his fields of expertise include macroeconomics monetary policy and international economics he is best known for his work creating an interest rate forecasting tool that came to be known as the taylor rule the taylor rule asserts that the real interest rate should be 1 5 times the inflation rate based on several macroeconomic assumptions 2 more on john b taylorhe served on the president s council of economic advisers from 1976 1977 and from 1989 1991 he was also a member of the congressional budget office of economic advisers from 1995 2001 taylor has also served as under secretary of the treasury for international affairs under the george w bush administration in his home state of california taylor served as a member of the california governor s council of economic advisors from 1996 1998 and 2005 2010 3 taylor is the author of hundreds of books and studies including his landmark 1993 paper discretion vs policy rules in practice in which he introduced the arguments that came to be known as the taylor rule he is a frequent guest on financial television radio and podcasts and has penned hundreds of articles and op eds around macroeconomics and monetary policy he has also been the recipient of dozens of distinguished awards in the field of economics including the 2016 adam smith awards from the association of private enterprise education and the 2015 truman medal for economic policy in addition to his work at stanford university taylor has also taught at columbia university and the woodrow wilson school of princeton he graduated summa cum laude from princeton with a b a in economics in 1968 and received his ph d in economics from stanford university in 1973 3 