Carnegie Mellon University

Image of Charles L. Evans, the Honorary Degree Recipient for the Tepper School of business

April 23, 2024

Tepper School Alumnus Among 2024 Honorary Degree Recipients

Charles L. Evans (TPR 1985, 1989), the former president and CEO of Federal Reserve Bank of Chicago, has been named a 2024 honorary degree recipient by Carnegie Mellon University. The Tepper School double alumnus will receive the Doctor of Public Service during the university’s Commencement celebration on May 12. Additionally, he will serve as the featured speaker at the Tepper School's Ph.D. hooding and diploma ceremony.

An honorary degree is one of the highest distinctions the university bestows upon an individual, recognizing the impact an individual has made in their field.

Evans, a 31-year veteran of the Federal Reserve Bank of Chicago, served as an advisor and policymaker attending Federal Open Market Committee (FOMC) meetings since 1995. His policy experiences span a broad set of episodes unique in post-war economic history. He became president and CEO in September 2007 and served for 15 years. During this time, Evans was recognized as a significant strategic thought leader on the FOMC. His continued advocacy for transparent communications and forward guidance facilitated the committee’s adoption of the Evans rule in December 2012, more explicit committee projections for future policy rates, and enhancements to the long-run strategy of the committee for making monetary policy.

Evans is an accomplished economic researcher, with publications in top-ranked, peer-reviewed journals. His empirical research has focused on measuring the effects of monetary policy on U.S. economic activity, inflation and financial market prices. His contributions on dynamic modeling are widely cited and have been incorporated in central bank models around the world to assess policy effectiveness.

As a long-time Federal Reserve executive, he chaired Federal Reserve System committees that oversaw strategic assessments of Federal Reserve Bank operations during the COVID-19 pandemic, as well as investment activities to fund both defined benefit and defined contribution retirement plans for more than 20,000 employees.

Evans a master's and doctoral degree in economics from Carnegie Mellon University as well as a achelor's degree with high honors in economics from the University of Virginia. He has taught at the University of Chicago, the University of Michigan and the University of South Carolina.

Evans joins three other individuals in the Commencement 2024 honorary recognition, including Renée Elise Goldsberry (CFA 1993), Reeta Roy, and William D. Strecker (ENG 1966, 1967, 1971).