Financial Stability in Germany: Which Challenges Lie Ahead?

The ACG and the Deutsche Bundesbank will host a breakfast briefing with Dr. Kirstin Hubrich, Deputy Director General for Financial Stability of the Deutsche Bundesbank, in conversation with Tara Hariharan, Managing Director of Global Macro Research at NWI Management and ACG Board Member.

Dr. Kirstin Hubrich has been the Deputy Director General Financial Stability at the Deutsche Bundesbank since July 1, 2023. Prior to this appointment she served as the Head of the International Economics Section at the Austrian Central Bank and as a Member of the Monetary Policy Committee of the Eurosystem. Previously, Dr. Hubrich served at the Board of Governors of the Federal Reserve System (Federal Reserve Board) from 2015 to 2022. She joined the Federal Reserve Board as a Principal Economist in the Macroeconomic and Quantitative Studies Section, Division Research and Statistics, and was Chief of the Prices and Wages Section in the Research and Statistics Division. In the Program Direction of Research and Statistics the focus of her responsibilities was on the interaction of the financial system and the macroeconomy, financial projections and financial stability. She has also served as the Federal Reserve Board Representative in the G7 Working Group on Digitalization.

Prior to the appointment to the Federal Reserve Board, Dr. Hubrich held various positions at the European Central Bank (ECB) over 14 years, namely in the Financial Research Division of the Research Department as well as the Monetary Policy Strategy Division in the Monetary Policy Department. Before joining the ECB she has held positions as research fellow and economist at the Dutch Central Bank. Dr. Hubrich received her Ph.D. from the Humboldt University Berlin

Tara Hariharan is Managing Director of Global Macro Research and Head of Macro Research at NWI Management LP, a New York-based emerging markets-focused hedge fund. She regularly presents her assessments of the People’s Republic of China’s (PRC) economy and US-China relations to senior U.S. policymakers and International Monetary Fund representatives.

Ms. Hariharan is a life member of the Council on Foreign Relations and a Millennium Leadership fellow at the Atlantic Council. She was a 2014 German Marshall Fund Marshall Memorial fellow, a 2016 American Council on Germany (ACG) young leader, and a 2022 Economic Club of New York fellow. In 2022, she was elected to ACG’s board. She is also a member of the U.S. Chamber of Commerce Chief Economists’ Committee. Elected to the Inter-American Dialogue in 2021, she regularly contributes to its publications on trade flows and the PRC’s influence on Latin America.

Ms. Hariharan holds a bachelor’s degree summa cum laude in anthropology from Princeton University and a graduate certificate in international relations from Harvard Extension School.