Nancy Hays Teeters (July 29, 1930 – November 17, 2014)[1] was an American economist and corporate executive who served as a member of the Federal Reserve Board of Governors from 1978 to 1984. A member of the Democratic Party, Teeters was the first woman to sit on the Board. She was nominated by President Jimmy Carter to fill out the remainder of the term of Arthur F. Burns, a former chairman of the Fed. Teeters was known for her public statements in which she dissented from the mainstream opinion of the Board and Chairman Paul Volcker.[2]
Nancy Teeters | |
|---|---|
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| Member of the Federal Reserve Board of Governors | |
| In office September 18, 1978 – June 27, 1984 | |
| President | Jimmy Carter Ronald Reagan |
| Preceded by | Arthur F. Burns |
| Succeeded by | Martha Seger |
| Personal details | |
| Born | June 29, 1930 Marion, Indiana, U.S. |
| Died | November 17, 2014 (aged 84) Stamford, Connecticut, U.S. |
| Political party | Democratic |
| Spouse | Robert Teeters |
| Education | Oberlin College (BA) University of Michigan, Ann Arbor (MA) |
Early life and education edit
Teeters was the youngest of three children born to Edgar Hayes, a box salesman, and Mabel, a homemaker. She received a bachelor's degree from Oberlin College in 1952 and a master's degree from the University of Michigan in 1954, both in economics.[2]
Career edit
In 1957, Teeters joined the Federal Reserve as a staff economist in the Division of Research and Statistics. From 1962 to 1963, she worked as an economist on the staff of the Council of Economic Advisers, then led by Chair Walter Heller. She returned to the Fed for three years and also spent time with the Bureau of the Budget (predecessor of the Office of Management and Budget, the Brookings Institution, and the Congressional Research Service prior to her appointment to the Board of Governors of the Federal Reserve.[1]
After leaving the Fed, she joined IBM as director of economics, and was elected an IBM vice president and chief economist in 1986; the second woman to hold the post. Teeters served in that capacity until her retirement in 1990.[3] She died on November 17, 2014, at the age of 84.
References edit
- ^ a b "Nancy H. Teeters". Federal Reserve History. Retrieved 29 October 2015.
- ^ a b Vitello, Paul (November 24, 2014). "Nancy H. Teeters, First Woman on Federal Reserve Board, Dies at 84". The New York Times.
- ^ Arnold, Lawrence. "Nancy Teeters, First Woman on Federal Reserve Board, Dies at 84" Bloomberg Business November 23, 2014
External links edit
- Nancy H. Teeters (1966). Some fiscal implications of expansion of the social security system. Board of Governors of the Federal Reserve System.
- United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs (1978). Nomination of Nancy H. Teeters: hearing before the Committee on Banking, Housing, and Urban Affairs, United States Senate, Ninety-fifth Congress, second session ... September 11, 1978. U.S. Government Printing Office.
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