Glenn Hutchins speaking at a Brookings Institution event. (Paul Morigi)
Glenn Hutchins, co-founder of Silver Lake and vice chair of the Brookings Board of Trustees, established the Hutchins Center on Fiscal and Monetary Policy with a $10 million gift from the Hutchins Family Foundation. This extraordinary investment enables Brookings to bring together two critical aspects of economic policy for rigorous analysis and practical recommendations. The Hutchins Center is led by David Wessel, senior fellow in Economic Studies, who is the bestselling author of Red Ink: Inside the High Stakes Politics of the Federal Budget and In Fed We Trust: Ben Bernanke’s War on the Great Panic, and comes to Brookings after 30 years at the Wall Street Journal. The gift that established the Hutchins Center includes both operating support and an endowment that will provide resources in perpetuity.
“Thoughtful fiscal and monetary policies are essential to a well-functioning market economy,” Hutchins said. “By establishing the Hutchins Center at Brookings, we intend to foster world-class analysis of the critical questions facing fiscal and monetary policymakers as well as to think hard about the interaction between the two domains. Investing in this work at Brookings guarantees that the research and recommendations will be independent of political bias and institutional constraints as well as designed to achieve tangible impact. There is a clear need for cutting-edge, empirical, and non-partisan research that can clarify policy choices and frame the public debate. The Hutchins Center plans do just that.”
“Glenn is a real leader among our Trustees,” said Brookings President Strobe Talbott.” As chair of our Second Century Campaign, he is setting a great example for others considering investing in the Institution. We’re especially grateful that he made a portion of his gift for the endowment, since sustainability is a key focus of the Campaign. Knowing that Brookings will have a reliable source of funding to support work on fiscal and monetary policy enables us to take on long-term challenges as well as more sudden crises that may arise.”