Anil K. Jain is a Principal Economist in the Global Financial Institutions section of the Federal Reserve Board. His research focuses on development economics, financial markets, and financial stability. Anil earned his Ph.D. in Economics from the Massachusetts Institute of Technology in 2014, following an M.Phil. and B.A. in Economics from Trinity College, Cambridge. His scholarly work includes analysis on credit rationing, bank nonperforming loans, and the distributional impacts of financial policies, with publications in the Journal of Financial Intermediation and the Journal of Development Economics. Anil has served on many global working groups, including for the BIS’ Committee for Global Financial Stability.