His core research fields include asset pricing and financial econometrics.
Hurst takes over from Michael Greenstone, who was recently named inaugural director of the university’s new climate and energy institute.
He would take over from Lael Brainard who is leaving the central bank to join the Biden administration’s National Economic Council.
He joins the organization in a research leadership role alongside fellow co-scientific director Amy Finkelstein.
The Chicago Booth professor will begin work at the reserve bank in January.
He takes up the post in January next year.
Per Strömberg says the economists’ theories remain as relevant to fintech as they did to traditional banking in the 1980s.