Buoyant Economies
Profiles of the Federal Reserve Board of Governors
of the Federal Reserve System (since 1 January 1970)
"I am the most unhappy man. I have unwittingly ruined my country. A great industrial nation is now controlled by its system of credit. We are no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men." Woodrow Wilson
'the President is directed by law to select a "fair representation of the financial, agricultural, industrial, and commercial interests and geographical divisions of the country."
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Wm. McC. Martin, Jr. |
Graduate of Yale, where his formal education was in English and Latin rather than economics.
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J.L. Robertson
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Graduated from the University of Wisconsin in 1925. After graduating, Mr. Mitchell worked as a research assistant at the University of Iowa and the University of Chicago until 1932.[1] In 1933, he was hired as the Director of Research for the Illinois Tax Commission. In 1940, he became Assistant to the Director of Revenue for the State of Illinois.[1]In 1943, Mr. Mitchell joined the staff of the Federal Reserve Bank of Chicago, but was also as a consultant for the Bureau of Internal Revenue. During this time, he simultaneously served as Director of Finance for the State of Illinois under Governor Adlai Stevenson. He was later appointed as the head of research for the Chicago Fed. |
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George W. Mitchell |
University of Wisconsin in 1925. After graduating, he worked as a research assistant at the University of Iowa and the University of Chicago. A long-time staffer at the Federal Reserve Bank of Chicago. He was an early promoter of electronic banking. Mitchell was a member of the American Economic Association, American Finance Association, and National Committee on Government Finance, Brookings Institution. |
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J. Dewey Daane |
B.A. from Duke University, M.P.A., Harvard University, and a D.P.A., Harvard University, 1949. Dr Daane spent more than 20 years in public service at the regional bank level, first at the Federal Reserve Bank of Richmond, Virginia, where he became Director of Economic Research, and then as Economic Advisor to the President and Board of Directors of the Federal Reserve Bank of Minneapolis. (Per Vanderbuilt University Biography). |
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Sherman J. Maisel |
Completed an undergraduate degree in economics from Harvard University in 1939. Worked as a research economist for the Federal Reserve Board in Washington, D.C. |
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Andrew F. Brimmer |
Bachelor's degree at University of Washington, Seattle, in 1950. Subsequently, was awarded a John Hay Whitney Foundation fellowship with which he pursued his master's degree. From 1955 through 1958
Mr. Brimmer gained valuable experience working as an economist
for the Federal Reserve Bank of New York, and in 1956 was
appointed to the fact-finding Central Banking Mission
sent to the developing African country of Sudan. Michigan
State University, East Lansing, assistant professor, 1958-61;
University of Pennsylvania, Wharton School of Finance and
Commerce, Philadelphia, assistant professor, 1961-63;
Securities Exchange Commission, consultant, 1962-63;
Department of Commerce, Washington, DC, deputy assistant
secretary, 1963-65, assistant secretary for economic affairs,
1965-66; |
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William W. Sherrill |
MBA from Harvard Graduate School of Business Administration. Has served as a director of Gulf and Western and Dasa Company. In addition, he was a director of the Federal Deposit Insurance Corporation, a Commissioner to the United Nations Commission for UNESCO (the United Nations Educational, Scientific and Cultural Organization), Treasurer of the City of Houston, President of a commercial bank, Executive Vice President of a savings and loan association, and President of a federal credit union. |
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Arthur F. Burns |
Arthur Frank Burns (April 27, 1904 in Stanisławów, Galicia (now Ivano-Frankivsk, Ukraine). Earned his B.A. and Ph.D (1934) from Columbia University, studying under Wesley Clair Mitchell. His career alternated between academia and government. He taught at Columbia and studied business cycles while president of the National Bureau of Economic Research. Burns was the chairman of the U.S. Council of Economic Advisors from 1953 to 1956 under Dwight D. Eisenhower's presidency. In 1953, he stated the American economy's "ultimate purpose is to produce more consumer goods." He served as the Chairman of the Federal Reserve from 1970–1978 and as ambassador to West Germany from 1981–1985. Has a reputation of having been overly influenced by political pressure in his monetary policy decisions during his time as Chairman[1] and for supporting the policy, widely accepted in political and economic circles at the time, that Fed action should try to maintain an unemployment rate of around 4 percent.[2] Burns's detailed macroeconomic analysis influenced Milton Friedman.
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John E. Sheehan |
M.B.A Harvard. 1960. Manufacturing Executive. Member of the Board of Trustees, Harvard Business School Alumni Association. |
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Robert C. Holland |
Details of Tertiary Qualifications Unknown Senior Fellow University of Pennsylvania. Former President and Senior Economic Consultant, Committee for Economic Development; Executive Director, Federal Reserve System; Vice President, Federal Reserve Bank, Chicago. |
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Henry C. Wallich |
Studied at University of Munich, Oriel College, Oxford University, New York University; MA, Harvard University (1941); PhD Economics, Harvard University (1944). Professor: Yale University (1951-); Economic columnist for Newsweek magazine. Had a “diverse career as an academician, journalist, Treasury official, Presidential adviser, and central banker was marked by an insistence on intellectual rigor and an implacable opposition to inflation”. His father and paternal grandfather were both bankers http://www.nytimes.com/1988/09/16/obituaries/henry-c-wallich-74-dies-served-on-federal-reserve.html http://www.nndb.com/people/952/000161469/. |
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Philip E. Coldwell |
Attended the University of Illinois. His education was interrupted by WW II. At the end of the war, he returned to the University of Illinois, receiving his Bachelors Degree in Economics in 1946 and his Masters Degree in 1947. Subsequently, he earned his Ph.D. in Economics and Finance at the University of Wisconsin. Dr. Coldwell taught at universities in Wisconsin, Illinois, Montana and Louisiana before beginning his career with the Federal Reserve System. From Industrial Economist and other intervening positions, he was promoted to President of the Dallas Federal Reserve Bank in 1968. He served there for 6 years prior to nomination to the Board of Governors. (Texas Monthly page 62 Jul 1977, Vol. 5, No. 7, ISSN 0148-7736, Published by Emmis Communications. Also see Dallas County Obituaries. |
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Philip C. Jackson, Jr. |
Details of Tertiary Qualifications Unknown Mortgage Banker. Professor Emeritus at Birmingham-Southern College ‘ a person who has spent all or most of his professional business life in the mortgage banking field’ - President Gerald Ford nomination on July 14, 1975. Was Vice-Chairman, Central Bank of the South Birmingham, Alabama per listing Life Membership of Board of Trustees, Birmingham-Southern College. |
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J. Charles Partee |
Details of Tertiary Qualifications Unknown Economist. Born 21 Oct 1927. Joined the Board of the Federal Reserve as a staff member in 1962. Appointed as Governor by President Nixon. He was ‘noted for his hand-knotted bow ties and his unwavering support of board chairmen’. (See American Banker Nov 25, 1985, Franklin, M B). Fellow of the National Board of Business Economists. |
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Stephen S. Gardner |
Details of Tertiary Qualifications Unknown Banker, Public Official |
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David M. Lilly |
Tertiary Qualifications Unknown Economist and Bank Regulator. Critic of Fed system and voting by Directors of Fed Banks. |
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G. William Miller |
Law degree from the Boalt Hall School of Law at the University of California, Berkeley in 1952. Manufacturing Executive. Mr. Miller was not perceived as having great prestige; not coming from an economics or Wall Street background, he was seen as an "outsider”. |
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Nancy H. Teeters |
Fiscal economist Nancy Hays Teeters (1930-) was born in Marion, Indiana. She received the B.A. in economics from Oberlin College in 1952 and the M.A. in economics from the University of Michigan in 1954. While working towards the doctorate, she taught economics for the University of Maryland's overseas division in Stuttgart, West Germany (1955-56) and for the University of Michigan (1956-57).
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Emmett J. Rice |
B.A. (1941) and an M.B.A. (1942) from City College of New York; and a Ph.D. in economics from the University of California at Berkeley in 1955. Cornell University economics professor. Was senior vice president of the National Bank of Washington; Deputy Director; and then Acting Director, of the Treasury Department's Office of Developing Nations. From 1966 to 1970, he was U.S. Alternate Executive Director for the International Bank for Reconstruction and Development (World Bank), the International Development Association, and the International Finance Corporation - President Carter nomination April 12, 1979. |
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Frederick H. Schultz |
Princeton University bachelor’s degree in 1952. He later attended the University of Florida College of Law, graduated with his law degree. Banker. Elected Official - Served in the Florida House of Representatives from 1963 to 1970, and during his last two years he served as Speaker. |
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Paul A. Volcker, jr. |
Graduated from Princeton University in 1949. He earned his M.A. in political economy from Harvard University's Graduate School of Arts and Sciences and Graduate School of Public Administration in 1951; and then attended the London School of Economics from 1951 to 1952.
After leaving the U.S. Treasury, he became president of the Federal Reserve Bank of New York from 1975 to 1979. Nominated by President Carter to Chair of Governors July 25, 1979 - "Mr. Volcker has broad economic and financial experience and enjoys an outstanding international reputation. He shares my determination to vigorously pursue the battle against inflation at home and to ensure the strength and stability of the dollar abroad." It was during his term as Chairmen of the Board that significant legislation was enacted that ‘deregulated’ the banking industry, and in the process diminished the distinctions between banks and other financial institutions (e.g. Savings & Loans) in the United States. (see American Presidency Project). |
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Lyle E. Gramley |
Graduate of Aurora University; Beloit College
(1951); MA Indiana University (1952); and PhD Economics,
Indiana University (1956).
From 1955 to 1962, Dr Gramley was a financial economist with 'the Federal Reserve Bank of Kansas City. From 1962 to 1964, he was an associate professor of economics at the University of Maryland. From 1964 to 1965, he was a senior economist with the Board of Governors of the Federal Reserve System. From 1965 to 1977, Gramley was with the Division of Research and Statistics of the Federal Reserve Board, beginning as an associate advisor and finally serving as director of the division. A member of the President's Council of Economic Advisers from prior to appointment 1977. |
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Preston Martin |
University of Southern California Economist, S&L Regulator, Banker. He served as California's Saving and Loan Commissioner between 1967 and 1969. President Nixon appointed him as Chairman and Chief Operating Officer of the Federal Home Loan Bank Board in 1969. He was involved in creating Freddie Mac while working in this position. [1]After leaving government in 1972, he founded the PMI Mortgage Insurance Company. [3]Martin later established Seraco Enterprises, a subsidiary of Sears, Roebuck and Company and was appointed to the board of directors of Sears. |
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Martha R. Seger |
BA, University of Michigan; MBA Finance, University of Michigan; and a PhD Finance and Business Economics, University of Michigan. Economist and Bank Regulator. Professor: Finance, Oakland University (1980), Professor: Finance, Central Michigan University (1982-84), Professor: Visiting Professor, Arizona State University. ‘Dr. Seger is a financial economist with extensive experience in business, banking, and government. She has served at both the State and Federal levels as the Commissioner of Financial Institutions for the State of Michigan and as a financial economist for the Federal Reserve Board in Washington’ – President Reagan 31 May 1984 re her nomination. (ser American Presidency Project.) |
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Wayne D. Angell |
B.A. from Ottawa University in Ottawa, Kansas in 1952; and a M.A. in 1953 from the University of Kansas. After completing his coursework for a Ph.D., he began a two-year period as a full-time Instructor in Economics at the University of Kansas, in 1954. In 1957, Wayne Angell completed his dissertation, ‘The History of Commercial Banking’ in Kansas, 1854-1954, to fulfill the final requirement for a Ph.D. in economics. Dr Angell has direct business experience as a Bank officer and director, as well as consulting with banks and thrifts in Missouri, Kansas, and Colorado. He completed two terms as a Director of the Federal Reserve Bank of Kansas City. http://govinfo.library.unt.edu/tdrc/members/angell.html |
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Manuel H. Johnson |
Attended University of Alabama from 1967 to 1968. Completed his undergraduate studies at Troy State University, now Troy University, graduating in 1973 with a Bachelor of Science (B.S.) degree in economics. He furthered his education at Florida State University at Tallahassee, graduating in 1974 with a Master of Science (M.S.) degree in economics. In 1977, he earned a Ph.D. in economics from Florida State. From 1977 to 1994, Dr Johnson was a professor of economics at George Mason University, where he held the Koch Chair in International Economics. Johnson served as Assistant Secretary of the Treasury (1982–1986), and Deputy Assistant Secretary (1981–1982). While at the Treasury, Johnson was responsible for the formulation of economic policy initiatives and development of the Administration’s economic forecast for the budget. He was also instrumental in designing the Economic Recovery Tax Act of 1981 and the Tax Reform Act of 1986, which represents the most comprehensive change in the history of U.S. tax law. His performance at the Treasury won him the Alexander Hamilton Award, the department’s highest honor. |
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H. Robert Heller |
BA, Parsons College (1961), MA; University of Minnesota (1962); and PhD Economics, University of California at Berkeley (1965). Professor: Economics, University of California at Los Angeles (1965-71); and Professor: Economics, University of Hawaii at Manoa (1971-74). Dr Heller has had an extensive career in banking, international finance, and government. IMF Chief, Financial Studies Division (1974-78), Member of the Board of Bank of Marin. |
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Alan Greenspan |
Alan Greenspan was born in the Washington
Heights area of New York City. Greenspan attended George
Washington High School from 1940 until he graduated in June
1943. In 1945 He attended New York University (NYU), where he
earned a B.S. degree in economics summa cum laude in 1948[4]
and an M.A. degree in economics in 1950 At Columbia University, under the tutelage of Arthur Burns, he pursued advanced economic studies but dropped out.[6] In 1977, Greenspan obtained a Ph.D. degree in economics from New York University.
In the summer of 1968, Greenspan agreed to serve Richard Nixon as his coordinator on domestic policy in the nomination campaign.[11Greenspan has also served as a corporate director for Aluminum Company of America (Alcoa); Automatic Data Processing; Capital Cities/ABC, Inc.; General Foods; J.P. Morgan & Co.; Morgan Guaranty Trust Company; Mobil Corporation; and the Pittston Company.[12][13] He was a director of the Council on Foreign Relations foreign policy organization between 1982 and 1988.[14] He also served as a member of the influential Washington-based financial advisory body, the Group of Thirty in 1984. Served as a corporate director for J.P. Morgan & Co., Inc.; Morgan Guaranty Trust Company of New York. He also served as a member of the influential Washington-based financial advisory body, the Group of Thirty in 1984. On June 2, 1987, President Ronald Reagan nominated Greenspan as a successor to Paul Volcker as Chairman of the Board of Governors of the Federal Reserve, and the Senate confirmed him on August 11, 1987. Investor, author and commentator Jim Rogers has said that Greenspan lobbied to get this chairmanship.[16] see http://en.wikipedia.org/wiki/Alan_Greenspan |
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John P. LaWare |
‘Mr. LaWare graduated from Harvard
University (B.A., 1950) and the University of Pennsylvania
(M.A., 1951’).
Banker. ‘Since 1978 Mr. LaWare has been chairman and director of Shawmut National Corp. and Shawmut Bank in Boston, MA. He was named chairman and chief executive officer of both the corporation and the bank in 1980. Mr. LaWare joined Chemical Bank & Trust Co. in 1953, serving in various capacities: senior vice president, vice president, assistant vice president and assistant secretary’ – President Reagan nomination May 23, 1988. |
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David W. Mullins, Jr. |
Received a B.S. degree in administrative sciences from Yale University and a S.M. degree in finance from the Sloan School of Management at the Massachusetts Institute of Technology (MIT). In 1974 received his Ph.D. in finance and economics at MIT. Dr. Mullins was born April 28, 1946, in Memphis, TN.
Nominated by President George Bush on March 8, 1989 to be an Assistant Secretary of the Treasury. See American Presidency Project: www.presidency.ucsb.edu http://www.presidency.ucsb.edu/ws/index.php?pid=16743#ixzz1N4k1X4Yl |
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Lawrence B. Lindsey |
‘He received his M.A. from Harvard in 1981 and his Ph.D. from Harvard in 1985 in economics.’ ‘Dr. Lindsey has served as Associate Director for Domestic Economic Policy, Office of Policy Development, since January 1989. In September of 1989 he was named as Executive Director of the President's Council on Competitiveness, chaired by Vice President Quayle. Prior to joining the administration, Dr. Lindsey was an associate professor of economics at Harvard University… Dr. Lindsey was also a faculty research fellow at the National Bureau of Economic Research. From 1981 to 1984, he served on the staff of the Council of Economic Advisers, where he became senior staff economist for tax policy.’ – Nomination President Bush on March 22, 1990. (see American Presidency Project.) |
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Susan M. Phillips |
Earned a B.A. in Mathematics from Agnes Scott College; a M.S. in Finance and Insurance from Louisiana State University (LSU); and her Ph.D. in Finance and Economics also from LSU. Before her Federal Reserve appointment, Dr. Phillips served as Vice President for Finance and University Services and Professor of Finance in The College of Business Administration at the University of Iowa from 1987 through 1991. She is a director of State Farm Mutual Automobile Insurance Company, State Farm Life Insurance Company, State Farm Companies Foundation, National Futures Association, and the Chicago Board Options Exchange. Dr. Phillips also is a trustee of the Financial Accounting Foundation. ‘has been a Brookings Institution economic policy fellow at the Securities and Exchange Commission - President Reagan nomination November 17, 1983. (see American Presidency Project.) |
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Alan S. Blinder |
Undergraduate degree in economics from Princeton, in 1967; MSc in economics from the London School of Economics (1968);[6] and a doctorate in economics from the Massachusetts Institute of Technology in 1971.[6] Academic and Politician. |
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Janet L. Yellen |
Graduated from Brown University with a degree in economics in 1967; and received her Ph.D. in economics from Yale University in 1971. Beginning in 1980, Dr. Yellen has been conducting research at the Haas School and teaching macroeconomics to full-time and part-time MBA students. She is now a Professor Emeritus at the University of California, Berkeley's Haas School of Business, where she was the Eugene E. and Catherine M. Trefethen Professor of Business and Professor of Economics. Yellen served as chair of President Bill Clinton's Council of Economic Advisers from 1997 to 1999. She has taught at Harvard University and at the London School of Economics. Yellen serves as president of the Western Economic Association International and is a former vice president of the American Economic Association. She is a fellow of the Yale Corporation. On June 14, 2004, Yellen became the President and Chief Executive Officer of the Federal Reserve Bank of San Francisco. She was a voting member of the Federal Open Market Committee (FOMC) in 2009. (see American Presidency Project.) |
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Laurence H. Meyer |
B.A. from Yale University in 1965; and a Ph.D. in economics from the Massachusetts Institute of Technology in 1970. D Meyer taught at Washington University in St. Louis for 27 years. He also ran an economic consulting firm, Laurence H. Meyer and Associates, with two former students. After he moved to the Fed, he sold his interest in the firm and it renamed itself Macroeconomic Advisers. He won several economic forecasting awards while running the company. |
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Alice M. Rivlin |
An alumna of the Madeira School; earned a B.A. at Bryn Mawr College in 1952; and earned a Ph.D. from Radcliffe College in 1958. Dr Rivlin has been affiliated several times with the Brookings Institution, including stints in 1957–66, 1969–75, 1983–93, and 1999 to the present. She is currently a visiting professor at the Georgetown Public Policy Institute. She was the first director of the newly established Congressional Budget Office during 1975–83, where she was a persistent and vociferous critic of Reaganomics as head of the CBO. In 1983, she won a MacArthur Foundation "genius" award. |
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Roger W. Ferguson, Jr. |
B.A. in economics in 1973; a J.D. in 1979; and a Ph.D. in economics in 1981, all from Harvard University. In 1973 and 1974, he was Frank Knox Fellow at Pembroke College, Cambridge University. In 2004, Dr Ferguson was elected to an Honorary Fellowship there. In addition, he has honorary degrees from Lincoln College (Illinois),[1] Webster University and Washington and Jefferson College. Dr. Ferguson is a Fellow of the American Academy of Arts and Sciences. He was a member of the Board of Overseers of Harvard University, serving as President during 2008-2009, an elected member of the Board of Directors of the Harvard Alumni Association. From 1981 to 1984, Dr.Ferguson was an attorney at the New York City office of Davis Polk & Wardwell, where he worked with commercial banks, investment banks, and Fortune 500 corporations on syndicated loans, public offerings, mergers and acquisitions, and new product development. Ferguson was a partner at McKinsey & Company. He was based in New York City from 1984 to 1997, and managed a variety of studies for financial institutions. Dr. Ferguson also served as Director of Research and Information Systems, overseeing a staff of 400 research professionals and managing the firm's investments in knowledge management technologies. |
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Edward M. Gramlich |
Graduated from Williams College in 1961; and received a master's degree in 1962, and a Ph.D. in economics in 1965 from Yale University. Dr Gramlich joined the Federal Reserve as a research economist (1965-1970); and was a senior fellow at the Brookings Institution (1973-1976). He then taught economics and public policy at the University of Michigan (1976 to 1997), including a term as dean of the Gerald R. Ford School of Public Policy, and returned to Michigan as a professor in 2005.
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Susan S. Bies |
B.S. in education from the Buffalo State College in 1967; and an M.A. (1968) and a Ph.D. (1972) - both in economics, from Northwestern University. Dr. Bies was Executive Vice President for Risk Management and Auditor at First Tennessee National Corporation (1995-2001). From 1979 to 1995, she served in various other positions at First Tennessee, including Senior Vice President and Treasurer, Vice President for Corporate Development, Tactical Planning Manager, and Economist. Before joining First Tennessee, Bies was Associate Professor of Economics, Rhodes College, Memphis, Tennessee (1977-79); Assistant Professor of Economics, Wayne State University, Detroit, Michigan (1972-77); and Chief Regional and Banking Structure Economist at the Federal Reserve Bank of St. Louis (1970-72). Dr. Bies has served as a Fellow at the Federal Reserve Bank of Chicago (1969-70) and as a Fellow at the Northwestern University Center for Urban Affairs (1968-69). She has been active in leadership positions for various organizations, including the Emerging Issues Task Force of the Financial Accounting Standards Board, the Committee on Corporate Reporting of the Financial Executives Institute, the End Users of Derivatives Association, the American Bankers Association, and the Bank Administration Institute. |
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Mark W. Olson |
B.A. in economics from St. Olaf College in1965. In 1966, Mr Olson began his banking career with First Bank System (now U.S. Bancorp). From 1976 to 1988, he was President and CEO of Security State Bank. During his years at Security State Bank, Olson was also actively involved in public policy issues involving the banking industry. Mr Olson served on the American Bankers Association Board of Directors and as Chairman of the ABA Government Relations Council. In 1986, at age 43, he became the youngest person ever elected as President of the American Bankers Association.[2] |
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Ben S. Bernanke |
Attended Harvard University, where he lived in Winthrop House and graduated with a B.A. in 1975. He received his Ph.D. in economics from the Massachusetts Institute of Technology in 1979. Dr Bernanke taught at the Stanford Graduate School of Business (1979 -1985), was a visiting professor at New York University and went on to become a tenured professor at Princeton University in the Department of Economics. He chaired that department from 1996 until September 2002, when he went on public service leave. He resigned his position at Princeton July 1, 2005. |
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Donald L. Kohn |
B.A. in economics in 1964 from The College of Wooster and a Ph.D. in economics in 1971 from the University of Michigan. Dr Kohn is a veteran of the Federal Reserve System. Before becoming a member of the Board, he served on its staff as Adviser to the Board for Monetary Policy (2001-02), Secretary of the Federal Open Market Committee (1987-2002), Director of the Division of Monetary Affairs (1987-2001), and Deputy Staff Director for Monetary and Financial Policy (1983-87). He also held several positions in the Board's Division of Research and Statistics--Associate Director (1981-83), Chief of Capital Markets (1978-81), and Economist (1975-78). Dr. Kohn began his career as a Financial Economist at the Federal Reserve Bank of Kansas City (1970-75). |
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Kevin M. Warsh |
B.A. in public policy (with honors) from Stanford University in 1992 with a concentration in economics and political science. He went on to study law at Harvard Law School, and received a J.D. in 1995. He also took coursework in market economics and debt capital markets at Harvard Business School, and the MIT Sloan School of Management. ‘From 2002 to 2006, Kevein Warsh was Special Assistant to the President for Economic Policy, and Executive Secretary of the National Economic Council. His primary areas of responsibility included domestic finance, banking and securities regulatory policy, and consumer protection. He advised the President and senior administration officials on issues related to the U.S. economy, particularly fund flows in the capital markets, securities, banking, and insurance issues. Kevin Warsh participated in the President's Working Group on Financial Markets and served as the administration's chief liaison to the independent financial regulatory agencies.’ |
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Randall S. Kroszner |
A ‘graduate of Brown University, he received a Master’s degree and Ph.D. from Harvard University.’ ‘He is presently a Professor of Economics at the University of Chicago Graduate School of Business where he has taught since 1990. From 1987 to 1989 he served as a Junior Staff Economist on the Council of Economic Advisors. He served as a visiting scholar in the research department of the International Monetary Fund in 1993, 1994, 1995 and 2000, and he has served as a visiting scholar at Federal Reserve Banks in Chicago, New York, Minneapolis, Kansas City and St. Louis’. – President Bush nomination July 25, 2001. (See American Presidency Project.) |
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Frederic S. Mishkin |
Attended the Fieldston School. B.S. from the (1973); and Ph.D. (1976), both in economics, from the Massachusetts Institute of Technology. Dr. Mishkin was a professor at the University of Chicago (1973-1976); visiting professor at Northwestern University (1982-1983). Has been professor at Columbia Business School since 1983; Professor of Economics (1991 - 1999) when he was appointed Alfred Lerner Professor of Banking and Financial Institutions; research associate at the National Bureau of Economic Research 1980 to 2006; and a senior fellow at the Federal Deposit Insurance Corporation's Center for Banking Research (2003 – 2006); and visiting professor at Princeton University (1990-1991). From 1994 to 1997, Dr Mishkin was Executive Vice President and Director of Research at the Federal Reserve Bank of New York and an Associate Economist of the Federal Open Market Committee of the Federal Reserve System. Dr. Mishkin was the editor of the Federal Reserve Bank of New York's Economic Policy Review and later served on that journal's editorial board. From 1997 to 2006, he also was an academic consultant to and served on the Economic Advisory Panel of the Federal Reserve Bank of New York. Dr Mishkin has been an academic consultant to the Board of Governors and a visiting scholar at the Board's Division of International Finance. He has been a consultant to the World Bank, the Inter-American Development Bank, and the IMF, Member of the International Advisory Board to the Financial Supervisory Service of South Korea and an adviser to the Institute for Monetary and Economic Research at the Bank of Korea. In 1999, Dr Mishkin received an honorary professorship from the People's (Renmin) University of China. |
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Elizabeth A. Duke |
While working full time, she attended Old Dominion University part time and received her MBA in 1983. In 1978, Ms Duke was vice president and chief financial officer of the Bank of Virginia Beach. She transferred to the Bank of Tidewater in 1985 as vice president and chief financial officer. She became its president in 1987 and chief executive officer in 1991. She was selected as a director of the Federal Reserve Bank of Richmond in 1998 and, in 1999. Ms Duke was elected president of the Virginia Bankers Association. SouthTrust made her executive vice president of community bank development. She was also elected chairman of the American Bankers Association for the 2004-05 year. In 2005, she became senior executive vice president TowneBank. |
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Daniel K. Tarullo |
Professor of Law at Georgetown University Law Center. His areas of specialty are international economic regulation, banking law, and international law. He served in the Clinton Administration as Deputy Assistant to the President for Economic Policy and later as Assistant to the President for International Economic Policy where he was responsible for coordinating the international economic policy of the administration. He was a member of the National Economic Council and the National Security Council. He was also Assistant Secretary of State for Economic and Business Affairs from 1993 to 1996. |
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Sarah Bloom Raskin |
J.D. degree from Harvard Law School and a B.A. in economics from Amherst College, where she wrote her undergraduate thesis on monetary policy. An American attorney and regulator. Previously, she served as Maryland Commissioner of Financial Regulation. |
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Last Revised: 14 November 2011
Link to The Great Financial Injustice
The Growth of Debt and the Loss of Income in America