Fed vice chair’s visit to campus inspires students

During any given academic year at Lafayette College, distinguished authors, researchers, elected officials, business leaders, and innovators who speak on campus often display additional acts of generosity by engaging with students.

Fed Vice Chair Philip Jefferson’s visit Feb. 4, sponsored by the Department of Economics and the Division of Inclusion, was another memorable example of this uniquely Lafayette tradition. Before his talk in Oechsle Hall, where he discussed his outlook for the U.S. economy and shared his views on monetary policy, he took time to meet with students and answer questions.

Susan Averett, Charles A. Dana Professor of Economics, and Julie Smith, Frank Lee and Edna M. Smith Professor of Economics and assistant department head, organized and planned the entire event, choosing and inviting Jefferson because he would provide impactful and inspiring interactions with students.

For Julianne Gallo ’26, the opportunity to meet with Jefferson complemented her immersive study of the Fed last semester.

“Being able to talk to him about why the Fed began loosening monetary policy was very full circle,” she says, noting how the experience was a perfect tie-in to her completion of the Fed Challenge, a competition where students pose as members of the Fed and come up with monetary policy.

“To meet with Vice Chair Philip Jefferson was an incredibly valuable experience,” says Gallo (mathematic and economics, with a certificate in finance and minor in German). “I really enjoyed the chance to ask him questions about what his job entails and hear his wise perspective on the U.S. economy.”

John Blazakis ’25 (economics and classics) says Jefferson’s appearance on campus “was a testament to the incredible community developed around the Economics Department here at Lafayette. As someone working in finance after graduation, meeting him was an amazing opportunity to learn about the relationship between the Federal Reserve and the American financial system.”

Nisan Basciftci ’26 (mathematics, economics, and data science) describes her interaction with Jefferson as “beyond exciting.”

“I had the chance to meet one of the people who set almost all of the headlines in the financial news I read every day,” she says. “I found Dr. Jefferson’s remarks on monetary policy and the future of the U.S. economy more than insightful and thought-provoking as per our conversation.

“His emphasis on data analysis and the importance of understanding human psychology as an economist was eye-opening and made me better understand how I will benefit from the liberal arts education I receive at Lafayette in the future, no matter which industry I go into.”

Basciftci describes Lafayette’s liberal arts education as one that prepares students for the real world and familiarizes them with the theoretical concepts “that enable us to have the tools to question what we are exposed to as free-thinking individuals —starting with the question ‘Why Not?’”

Besides everything she learned through the conversations with Jefferson, one of her strongest takeaways was understanding the interdisciplinary nature of economics through his highlights on consumer psychology.

“It made me better see the importance of being a well-rounded individual,” Basciftci says. “As someone interested in macroeconomics and its implications on financial markets, meeting Dr. Jefferson meant a lot to me as I got to see the intersection of both through the lens of an academician who is also involved in monetary policy.”

Smith sustained the energy from Jefferson’s visit by discussing this message with her students during her Feb. 6 class.

“They thought that it was an incredible opportunity to hear from someone who is at the center of making monetary policy decisions,” Smith says.

Gallo says the experience will stay with her for a long time.

“Meeting Vice Chair Jefferson was inspiring and exciting and gave me the chance to consider career opportunities with the Fed in the future. He explained that becoming a leader at the Fed wasn’t really a part of his career plan, but ended up happening as a result of good fortune and timing as he pursued academia,” she observes.

“He taught us all that if you put your head down and do the best work you can, great opportunities can happen to you,” Gallo adds. “It was an honor to get to speak to such an accomplished economist, and it is an experience I will remember long after graduating Lafayette.