The Short Run

The members of the FOMC are indeed an impressive bunch. This section gives a brief outline of each members education, work experience, and positions on monetary policy.

	Dr. Alan Greenspan, chairman Education B.S. economics (summa cum laude), New York University, 1948 M.A. economics, New York University, 1950 Ph.D. economics, New York University, 1977 advanced graduate study, Columbia University Most Significant Work Experience Chairman, President of Townsend-Greenspan & Co., Inc. (1954-1974, 1977-1987) Chairman of the President's Council of Economic Advisors (1974-1977) Chairman of the National Commission on Social Security Reform (1981-1983) President Reagan's Economic Policy Advisory Board Time magazine Board of Economists consultant, Congressional Budget Office Chairman, Conference of Business Economists
	William J. McDonough, vice chairman Education B.A. economics, Holy Cross College, 1956 M.A. economics, Georgetown University, 1962 Most Significant Work Experience Chief Executive Officer, Federal Reserve Bank of New York Board of Directors, Bank for International Settlements Chairman, Basel Committee on Banking Supervision Vice Chairman, First Chicago Corp., 1986-1989 US State Department, 1961-1967 Board of Trustees, Economic Club of New York
	Dr. J. Alfred Broaddus, Jr. Education B.A. (omicron delta kappa, phi beta kappa), Washington and Lee University Fulbright scholar, University of Strasbourg M.A. economics, Indiana University Ph.D. economics, Indiana University Most Significant Work Experience economist, Federal Reserve Bank of Richmond, 1970 Sr. Vice President and Director of Research, Federal Reserve Bank of Richmond, 1985 American Economics Association National Association of Business Economists Chairman, United Way Services
	Dr. Roger W. Ferguson, Jr. Education B.A. economics (magna cum laude), Harvard University, 1973 J.D. law (cum laude), Harvard University, 1979 Ph.D. economics, Harvard University, 1981 Most Significant Work Experience Director of Research and Information Systems, McKinsey & Company, Inc., 1984-1997 Davis Polk & Wardwell, 1981-1984
	Dr. Edward M. Gramlich Education B.A., Williams College, 1961 M.A. economics, Yale University, 1962 Ph.D. economics, Yale University, 1965 Most Significant Work Experience Dean, School of Public Policy at the University of Michigan, 1995-1997 Professor, University of Michigan, 1976-1997 Chair of Economics Department, University of Michigan (1983-86, 1989-1990) Director, Institute of Public Policy Studies (1979-1983, 1991-1995) Chair, Quadrennial Advisory Council on Social Security (1994-1996) Deputy and Acting Director, Congressional Budget Office (1986-1987) Director of the Policy Research Division at the Office of Economic Opportunity, 1971-1973 Senior Fellow, Brookings Institution, 1973-1976 Research Division of the Federal Reserve Board, 1965-1970
	Jack Guynn Education B.S. industrial engineering (alpha pi mu, tau beta pi), Virginia Polytechnic Institute, 1964 M.S. industrial management, Georgia Institute of Technology, 1969 Harvard Business School for Management Development, 1974 Most Significant Work Experience systems analyst, Federal Reserve Bank of Atlanta Sr. Vice President, New Orleans office (Federal Reserve) Chairman, Federal Reserve Financial Services Management Committee
	Dr. Jerry L. Jordan Education B.A. economics, California State University, Northridge Ph.D. economics, University of California at Los Angeles, 1969 Most Significant Work Experience Sr. Vice President and Chief Economist, First Interstate Bancorp Dean and Professor, R.O. Anderson School of Management at the University of New Mexico President Reagan's Council of Economic Advisers Sr. Vice President and Chief Economist, Pittsburgh National Bank Sr. Vice President and Director of Research, Federal Reserve Bank of St. Louis economic consultant, Deutsche Bundesbank
	Edward W. Kelley, Jr. Education B.A. history, Rice University, 1954 M.B.A., Harvard University, 1959 Most Significant Work Experience Chairman of the Board, Investment Advisors Inc., 1981-1987 President and CEO, Kelley Industries, Inc., 1959-1981
	Dr. Laurence H. Meyer Education B.A. (magna cum laude), Yale University, 1965 Ph.D. economics, MIT, 1970 Most Significant Work Experience President, Laurence H. Meyer and Associates Professor, Washington University, 1969-1996 Economist, Federal Reserve Bank of New York
	Dr. Robert T. Parry Education B.A. (phi beta kappa), Gettysburg College M.A. economics, University of Pennsylvania Ph.D. economics, University of Pennsylvania Most Significant Work Experience Board of Governors Assistant Professor of Economics, Philadelphia College of Textiles and Science Sr. Vice President and Chief Economist and Principal Subsidary, Security Pacific National Bank President, National Association of Business Economists American Economic Association Director, National Bureau of Economic Research Advisory Board, Pacific Rim Bankers Program Director, Executive Committee of the San Francisco Bay Area Council