Policy | Ronnie Chatterji

2022-2023

Implementing the CHIPS and Science Act

What is the CHIPS Act?

The CHIPS and Science Act of 2022 is landmark U S. legislation that provides roughly $52 billion in incentives to expand domestic semiconductor manufacturing, fund cutting-edge R&D, and strengthen supply-chain security. The Act is rebuilding America’s capacity to design, fabricate, and package the tiny chips that power everything from smartphones to fighter jets. The CHIPS Act was passed with bipartisan approval. As of June 2024 it has supported new and expanded factories in Arizona, Colorado, Minnesota, New Hampshire, New Mexico, New York, Ohio, Oregon, Texas, and Vermont — and has catalyzed upwards of $500 billion dollars of private investment in local communities.

Why is the CHIPS Act so important?

Semiconductors, or “chips” are essential to the electronics of modern life. They do everything from regulating our car’s systems to powering our phones and hospitals to protecting our national security. Every day you interact with dozens, if not hundreds, of these tiny modern miracles.
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For the last 50 years, critical pieces of the manufacturing and assembly of chips has become concentrated outside of the United States. During the COVID pandemic, it was clear that this caused America’s supply chain to be extremely fragile. The impact of supply chain disruptions were widespread, resulting in spiking inflation, lost jobs, and enormous uncertainty. By investing in rebuilding and reigniting America’s industrial base for semiconductors, the CHIPS Act is not only creating good, high-paying jobs for Americans but is also helping build a more safe, resilient, and innovative American economy.

What was Ronnie’s role?

Serving as Acting Deputy Director of White House National Economic Council and CHIPS Coordinator, Ronnie oversaw the creation of one of America’s most ambitious pieces of science and technology policy. Ronnie helped ensure link federal dollars to workforce training, regional tech hubs, and responsible innovation. His team focused on putting the funds were put to work in a responsible manner, helping to invest in a broad-based engine of inclusive growth and the next-generation ecosystem of American-made talent and ideas.

2021-2022

Chief Economist, US Department of Commerce

What does the Department of Commerce do?

The U S. Department of Commerce supports economic growth. It houses many functions you probably have interacted with, including the Census, NOAA’s severe weather alerts, the Patent and Trademark Office, and the group that oversees international trade. Practically, it gathers data to guide public- and private-sector decisions, sets standards that keep markets fair, protects national security through trade regulation, and expands economic opportunity through investing in infrastructure and technology.

How does the Department of Commerce affect Americans day-to-day?

If you checked today’s weather forecast, ordered an item that crossed a state line, relied on GPS, or saw monthly jobs numbers in the news, you benefited from Commerce. Its satellites power weather alerts; its economic reports anchor mortgage rates and business plans; its trademark office protects the brands on store shelves; and its broadband grants help rural families get online.

What was Ronnie’s role?

Ronnie had the honor of serving as the Chief Economist for the U.S. Department of Commerce under Gina Raimondo. While at the Commerce Department, Ronnie’s team used rigorous data analysis to make sure that Commerce’s programs reached the communities that need them most—turning abstract statistics into concrete quality-of-life improvements. When Ronnie was appointed Chief Economist, America was right in the middle of supply chain disruptions resulting from COVID. Ronnie joined Commerce to lend his expertise in helping get America back on track and stronger than ever. Ronnie focused on initiatives that helped sustain and grow American manufacturing, innovation, and trade.

2020

Candidate for North Carolina State Treasurer

What does the State Treasurer of North Carolina do?

The North Carolina State Treasurer is the state’s chief financial officer and investment manager, responsible for a $120-plus-billion pension fund, the State Health Plan, and financing for schools, roads, and water systems. The office safeguards retiree benefits, issues bonds at low cost to taxpayers, and oversees the financial health of local governments. In short, it keeps the state’s promises while freeing up resources for future growth.

Why did Ronnie choose to run for Treasurer?

Much of Ronnie’s career has been centered on the ways that good government policies can help people. Ronnie recognized that good policy involves politics, and requires people who care about making a positive change to get involved. To put it another way, Ronnie entered the 2020 Treasurer race because he saw an opportunity to pair his economic expertise to solve the problems in his home state. Having advised federal policy makers and taught finance in the classroom, he believed North Carolina’s balance sheet could become a lever for inclusive prosperity. His candidacy was driven less by politics than by a teacher’s instinct: show that prudent, evidence-based management can translate into better schools, safer roads, more jobs, and stable retirements for every North Carolinian.

What are Ronnie’s reflections from this experience?

Ronnie won his party’s primary election and earned more than 2,000,000 votes in the general election. While he did not win the general election, he is so grateful to the North Carolinians that put their support behind his candidacy and that shared their stories with him while he campaigned across the state. Ronnie believes deeply in the vision he painted in his campaign, and has sought ways to help improve North Carolinians’ lives outside of elected office. Through his work at Duke and OpenAI, he’s worked with state policymakers, including current Treasurer Brad Briner, on statewide initiatives to improve efficiency and effective stewardship of North Carolina’s financial resources.

2010-2011

White House Council of Economic Advisers

What does the Council of Economic Advisers do?

The White House Council of Economic Advisers (CEA) is the president’s in-house economic think tank. Drawing on real-time data and academic research, the CEA evaluates policy proposals, produces forecasts, and writes the Economic Report of the President. Whether the issue is tax reform, trade negotiations, or a financial crisis, the Council’s job is to provide clear, non-partisan analysis so the president can make decisions that maximize employment, growth, and stability.

Why did Ronnie choose to join the CEA?

Joining the Obama White House’s CEA in 2010, in the wake of the Great Financial Crisis, allowed Ronnie to contribute to the nation’s recovery strategy, work alongside Nobel-level scholars, and learn how evidence shapes policy at the highest level. The experience cemented his commitment to translating research into action, a through-line that now guides his work on technology, finance, and economic inclusion. This crisis-management experience was also invaluable when, as the Chief Economist at the Department of Commerce in 2021, Ronnie confronted the supply chain disruptions resulting from the COVID crisis.

What was Ronnie’s role at CEA?

As Senior Economist at CEA, Ronnie focused on bringing rigorous analysis to the country’s most pressing economic questions at the time: how can the government speed up the recovery after the Great Financial Crisis? what do small businesses need to stabilize their finances and begin rebuilding their operations? how can we take the lessons of the Great Financial Crisis and ensure we come out of the Great Recession not just surviving, but stronger and more resilient?
As a part of this work, Ronnie authored Chapter 7 of the 2011 Economic Report of the President for the Obama Administration, highlighting the progress the Administration had made so far in the recovery, and what was still needed to promote entrepreneurism, inclusive growth, and greater dynamism in the American economy. You can read the report here.