Together, we mourn the loss and celebrate the life of a caring son, a devoted husband, a loving father, a cherished friend, a tireless colleague and an inspirational teacher and collaborator: Thomas Laubach.

Thomas’ life and career crisscrossed the Atlantic, and he was equally at home in Europe and the United States. Born in Ewersbach, Germany, he moved to the U.S. after graduating from the University of Bonn. He received his doctorate from Princeton University in 1997, completing his thesis under Ben Bernanke. He met his wife, Tahniat Saulat, while at Princeton. A long night dancing to Hungarian music left Thomas smitten, but Tahniat was not so easily convinced. In time, though, his humor, his kindness, his Teutonic practicality and precision—and his obvious love for her—won out.

Together they made homes in Kansas City, Missouri; Kensington, Maryland; Versailles, France; and Frankfurt, Germany. Thomas embraced Tahniat’s Indian family, happily joined their traditions to his, and added an Overseas Citizen of India card to his German and U.S. passports. As he moved between continents, he made many friends around the world with his gentle wit, intelligence, compassion, and delight in the ordinary as well as the extraordinary. And with Tahniat, he raised their three children, Laraib, Inaya, and Elyas, as truly global citizens, at ease in multiple cultures and languages and driven by the same curiosity and compassion he and Tahniat shared. 

Thomas began a career that spanned public service and academia at the Federal Reserve Bank of Kansas City before joining the staff of the Federal Reserve Board in Washington, DC, in 2000. He worked at the Organisation for Economic Co-operation and Development in Paris from 2003-05, while on leave from the Fed. He said a temporary goodbye to the Fed when he took a position as a Professor at Goethe University in Frankfurt from 2008-12. Thomas then returned to the Board of Governors, first to the Division of Research and Statistics, and was subsequently named to lead the Division of Monetary Affairs by then-Chair Janet Yellen in 2015. In that role, he continued to advise current Chair Jerome Powell.

A hugely influential thinker in monetary economics, Thomas excelled at translating complex ideas to the practical issues policymakers confront. He authored seminal research on estimating the "neutral" rate of interest, the rate that neither spurs nor slows economic growth. This work has underpinned much of the Federal Reserve's policymaking. Throughout his career, classmates and colleagues all remember Thomas’ boundless enthusiasm for the study of economics. That enthusiasm never waned—and together with his commitment to public service, it meant that he always saw monetary policy in terms of how it affected real people.

His life and his spirit leave a legacy of inspiration and service, of relentless demand for precision, and of passion for family. He looked at the world and saw connections, rather than borders, fences, or boundaries. Thomas offered the gifts of his intellect, his friendship, and his love. And, having shared these, we all are truly blessed.