The UCLA professor will join the Long Island-based university next summer.
The Princeton economist will serve as president-elect through 2023 and as president in 2024.
Elga Bartsch takes up the post of director general for economic policy at the federal government department.
The NYU professor’s research focuses on climate finance, household finance, social network analyses, real estate economics, and macroeconomics.
He returns to his previous post as a professor at Columbia Law School.
He takes up the role following the sudden departure of Marta Wosinska in February.
The Chicago Booth professor will begin work at the reserve bank in January.
He started work in the new research leadership role on Dec. 1.
The macroeconomist is widely known for his field-defining work examining business cycle fluctuations.
The agricultural economist leads the university’s student commodity investing program.