Stephanie A Kelton (née Bell; born October 10, 1969) is an American heterodox economist and academic, and a leading proponent of modern monetary theory.

Kelton is a professor at Stony Brook University[4] and a senior fellow at the Schwartz Center for Economic Policy Analysis at the New School for Social Research.

[15] On December 26, 2014, Kelton was designated Chief Economist for the Democratic Minority Staff of the Senate Budget Committee, a post she held in 2015 and early 2016, when she left that position to become an economic advisor to Bernie Sanders's presidential campaign.

"[17] She joined Stony Brook at the same time as her husband, Paul, who was appointed the first Robert David Lion Gardiner Chair in American history, at the College of Arts and Sciences.

[6][19] She has been a notable proponent of and researcher in modern monetary theory, publishing several papers and editing books in the field,[20] and a supporter of the proposal for a job guarantee.

[29] In the Review of Political Economy, David M. Fields credited Kelton with "lucid prose and a razor-sharp wit" and called the book a "wonderful contribution to the project of building a critical and progressive social science".

[30] Stanford University economist John H. Cochrane gave the book a negative review,[31] saying that Kelton's "implications don't lead to her desired conclusions ... her logic, facts and language turn into pretzels".

Cochrane called Kelton's analysis of inflation biased,[31] and said the book cited "no articles in major peer-reviewed journals, monographs with explicit models and evidence, or any of the other trappings of economic discourse".

"[32] Former European Central Bank chief economist Otmar Issing gave the book a negative review in an article criticizing modern monetary theory.