Kent Hiteshew is a Deputy Associate Director in the Office of Financial Stability at the Federal Reserve Board. He was hired in March 2020 to bolster the Fed’s municipal market expertise in the wake of the sharp market dislocations resulting from the COVID pandemic. He has been responsible for developing the Fed’s crisis response, including the Municipal Liquidity Facility.

Hiteshew has more than 35 years of experience delivering public finance solutions to both state and local government debt issuers and federal policy makers. Prior to joining the Federal Reserve Board, Hiteshew was a Strategic Advisor to EY’s infrastructure advisory and municipal restructuring businesses. Hiteshew was also a Senior Fellow for Municipal Finance at the Marron Institute of New York University. From 2014 to 2017, Hiteshew served as the first Director of the Office of State and Local Finance at the US Department of the Treasury. At Treasury, he designed policies to inform senior officials at Treasury and the White House concerning infrastructure finance, the municipal bond market, public pensions and fiscal distress. In particular, he served on the President’s Build America Infrastructure Task Force to promote federal policies to encourage greater private investment in public infrastructure. He led the team at Treasury that responded to the financial and economic crisis in Puerto Rico and developed the legislative proposals that became the basis for Congressional enactment of PROMESA in June 2016.

Before joining Treasury, Hiteshew was a public finance banker with JP Morgan and its predecessor firm, Bear Stearns, where he was lead banker for major issuers across the municipal finance sector, including state and local general obligation bonds, tax-backed and enterprise system revenue bonds and mortgage and real estate-related revenue and project finance debt instruments. He led financings over the course of his career that raised billions of dollars in the municipal capital markets for infrastructure and affordable housing.

Hiteshew is a graduate of Rutgers University and holds a Masters in City Planning from the University of North Carolina, Chapel Hill.