Who's on Board of the Federal Reserve??---Biographies and Dissents
Alan Greenspan, Chr
Alfred Broaddus, Rich
Anthony Santomero, Phil
Cathy Minehan, Bos
Edward Gramlich, Gov
Edward Kelley, Gov
Gary Stern, Minn
Jack Guynn, Atl
Jerry Jordan, Cleve
Laurence Meyer, Gov
Michael Moskow, Chi
Robert McTeer, Dallas
Robert Parry, SF
Roger Ferguson, Vice Chr
Thomas Hoenig, KC
William McDonough, NY - FOMC Vice Chr
William Poole, St Louis
Alan Greenspan, Chairman
Term as Chairman Expires: June 20, 2000
Term as Governor Expires: January 31, 2006
Dissents at FOMC Meetings: None.
Official Federal Reserve Bio
Dr. Greenspan took office June 20, 1996, as Chairman of the Board of Governors of the Federal Reserve System for a third four-year term ending June 20, 2000. Dr. Greenspan also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body. He originally took office as Chairman and to fill an unexpired term as a member of the Board on August 11, 1987. Dr. Greenspan was reappointed to the Board to a full 14-year term which began February 1, 1992. He has been designated Chairman by Presidents Reagan, Bush, and Clinton.
Dr. Greenspan was born on March 6, 1926, in New York City. He received a B.S. in economics (summa cum laude) in 1948, an M.A. in economics in 1950, and a Ph.D. in economics in 1977, all from New York University. Dr. Greenspan also has performed advanced graduate study at Columbia University.
From 1954 to 1974 and from 1977 to 1987 Dr. Greenspan was Chairman and President of Townsend-Greenspan & Co., Inc., an economic consulting firm in New York City. From 1974 to 1977 he served as Chairman of the President's Council of Economic Advisers under President Ford and from 1981 to 1983 as Chairman of the National Commission on Social Security Reform.
Dr. Greenspan has also served as a member of President Reagan's Economic Policy Advisory Board, a member of Time magazine's Board of Economists, a senior adviser to the Brookings Panel on Economic Activity, and a consultant to the Congressional Budget Office.
His previous Presidential appointments include the President's Foreign Intelligence Advisory Board, the Commission on Financial Structure and Regulation, the Commission on an All-Volunteer Armed Force, and the Task Force on Economic Growth.
Dr. Greenspan in recent years served as a Corporate Director for Aluminum Company of America (Alcoa); Automatic Data Processing, Inc.; Capital Cities/ABC, Inc.; General Foods, Inc.; J.P. Morgan & Co., Inc.; Morgan Guaranty Trust Company of New York; Mobil Corporation; and The Pittston Company.
His noncorporate positions have included Member of the Board of Trustees, The Rand Corporation; Director, Institute for International Economics; Member of the Board of Overseers, Hoover Institution (at Stanford University); and Vice Chairman and Trustee, Economic Club of New York.
Dr. Greenspan has served as Chairman of the Conference of Business Economists, President and Fellow of the National Association of Business Economists, and Director of the National Economists Club.
Dr. Greenspan's honorary degrees include University of Notre Dame, Doctor of Laws, 1995; Wake Forest University, Doctor of Laws, 1989; Colgate University, Doctor of Humane Letters, 1987; Hofstra University, Doctor of Humane Letters, 1984; and Pace University, Doctor of Commercial Science, 1981. His other awards include the Thomas Jefferson Award for the Greatest Public Service Performed by an elected or appointed official, presented by the American Institute for Public Service, 1976 (Joint recipient with Dr. Arthur Burns and William Simon); and election as a Fellow of the American Statistical Association, 1989.
William McDonough, President, Federal Reserve Bank of New York
Dissents at FOMC Meetings: None.
Official Federal Reserve Bio
Mr. McDonough took office July 19, 1993, as the eighth chief executive of the Second District Federal Reserve Bank, at New York. Mr. McDonough is currently serving a full term that began March 1, 1996.
Mr. McDonough was born April 21, 1934, in Chicago, Illinois. He earned a master's degree in economics from Georgetown University in Washington, D.C., in 1962, and a bachelor's degree, also in economics, from Holy Cross College in Worcester, Massachusetts, in 1956.
Prior to his present appointment, Mr. McDonough was executive vice president and head of the financial markets group of the Federal Reserve Bank of New York, which includes domestic open market and foreign exchange operations and U.S. government securities market surveillance. He joined the bank in January 1992.
In conjunction with that post, he was the manager of open market operations for the Federal Open Market Committee.
Mr. McDonough retired from First Chicago Corp. and its bank, First National Bank of Chicago, in 1989 after a 22-year career there. After leaving First Chicago, Mr. McDonough served in a variety of executive roles, including as an advisor to the World Bank and International Finance Corporation on the selection of outside auditors, special advisor to the president of the Inter-American Development Bank, and chairman of the Illinois Commission on the Future of Public Service.
At First Chicago, he was vice chairman of the board and a director of the bank holding company from 1986 until his retirement. Between 1980 and 1986, he was executive vice president and chief financial officer of the bank, and, before that, was executive vice president and head of worldwide banking, from 1973 to 1980. Prior to his career with First Chicago, Mr. McDonough was with the U.S. State Department from 1961 to 1967 and with the U.S. Navy from 1956 to 1961.
Mr. McDonough is a member of the board of directors of both the Bank for International Settlements and the New York Philharmonic Orchestra. He also is a member of the board of directors of the Council on Foreign Relations and the board of trustees of The Economic Club of New York.
Alfred Broaddus, President, Federal Reserve Bank of Richmond
Dissents at FOMC Meetings:
Dec 1997, in favor of tightening.
Nov 1997, in favor of tightening.
May 1997, in favor of tightening.
July 1994, in favor of tightening.
March 1994, in favor of more aggressive tightening.
Official Federal Reserve Bio
Mr. Broaddus took office January 1, 1993, as the sixth chief executive of the Fifth District Federal Reserve Bank, at Richmond. Mr.Broaddus is currently serving the remainder of a full term that began March 1, 1996.
Mr. Broaddus was born July 8, 1939, in Richmond, Virginia. He received his B.A. degree from Washington and Lee University where he was elected to Omicron Delta Kappa and Phi Beta Kappa. Following graduation, he studied in France under a Fulbright Fellowship, receiving a graduate degree from the Center for Advanced European Studies of the University of Strasbourg. After military service, Mr. Broaddus received M.A. and Ph.D. degrees in economics from Indiana University.
He joined the Bank's research staff as an economist in 1970, was named assistant vice president in 1972, vice president in 1975, and was promoted to senior vice president and director of research in 1985.
Mr. Broaddus is the author of a number of articles on banking and monetary policy. He has lectured at several state banking schools and has taught in the evening program of the University of Richmond. Mr. Broaddus is a member of the American Economic Association and the National Association of Business Economists.
Active in civic affairs, Mr. Broaddus was the 1990 chairman of the board of trustees of United Way Services in Richmond and is currently chairman of the board of governors at St. Christopher's School. He is also vice-chairman of the board of trustees of the Health Corporation of Virginia, the parent corporation of Richmond Memorial Hospital, and a past president of the Richmond Memorial Hospital Foundation. He is a member of the advisory boards of the Virginia Commonwealth University Center for Economic Education and the E. Claiborne Robins School of Business of the University of Richmond.
Robert McTeer, President, Federal Reserve Bank of Dallas
Dissents at FOMC Meetings:
June 1999, against tightening.
Official Federal Reserve Bio
Mr. McTeer took office February 1, 1991, as the tenth chief executive of the Eleventh District Federal Reserve Bank, at Dallas. Mr. McTeer is currently serving a full term that began March 1, 1996.
Mr. McTeer was born October 22, 1942, in Ranger, Georgia. He received B.B.A. and Ph.D. degrees in economics from the University of Georgia and served on its faculty for two years prior to joining the Federal Reserve System.
Mr. McTeer joined the Federal Reserve Bank of Richmond in 1968 as an economist in the research department. He was promoted to assistant vice president and given administrative responsibility for the research department in 1971. He also served for two years as editor of the Bank's Economic Review. He was promoted to vice president in 1975 and was made special assistant to the Bank's president and first vice president. In 1978, Mr. McTeer was assigned official responsibilities for the Bank's fiscal agency and securities departments. He was promoted to senior vice president in charge of the Baltimore Branch of the Richmond Reserve Bank in 1980, a position he held until he assumed the presidency of the Dallas Reserve Bank.
Mr. McTeer was involved in economic education during his tenure in Richmond and Baltimore as a member of the evening school faculties of several local universities, including ten years at the Johns Hopkins University. He has served on the faculties of several state and regional banking schools and as past president of the Baltimore Economic Society. He is a member of the Association of Private Enterprise Education and the Board of Directors of Dallas World Salute. |
