Biographical Dictionary of the Board of Governors of the Federal Reserve by Bernard S. KatzBiographical Dictionary of the Board of Governors of the Federal Reserve by Bernard S. Katz

Biographical Dictionary of the Board of Governors of the Federal Reserve

EditorBernard S. Katz

Hardcover | October 1, 1991

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With the passage of the Federal Reserve Act of 1913, the United States formally established a middle ground between the competing forces of the bankers' need for private control and the populist call for governmental oversight. But despite its role as the nation's only "centralized" banking authority, and its importance as a decision-making body, the Federal Reserve as an institution has always been fiercely protective of its own independence. In this work, Bernard Katz sheds light on this important arm of the government, by profiling each member of the board of governors from the inception of the Federal Reserve in 1914 through January 1991. Katz's work begins with a preface and introduction that detail the creation of the Federal Reserve and the role played by the board of governors within the organization. Sixty-seven biographical sketches then profile each of the board's chairmen and vice-chairmen, providing detailed information on their backgrounds, training, politics, and even the pettiness and insecurities of their lives. Each contributor also chronicles the economic issues that surrounded each board member's tenure, as well as controversies within the board and the relationships and debates with specific presidents and administrations. This unique reference work will be a major addition to both public and academic libraries, and a valuable resource for students of the Federal Reserve system, monetary policy, and money and banking.
Title:Biographical Dictionary of the Board of Governors of the Federal ReserveFormat:HardcoverDimensions:408 pages, 9.41 × 7.24 × 0.98 inPublished:October 1, 1991Publisher:GREENWOOD PRESS INC.

The following ISBNs are associated with this title:

ISBN - 10:0313266581

ISBN - 13:9780313266584

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Editorial Reviews

?The sixty-nine men who since its first members were appointed in 1914 have served or currently serve as governors of the Federal Reserve are no longer archetypal "faceless bureaucrats" thanks to this comprehensive biographical dictionary. Forty-one academics in economics and finance have contributed the profiles of the government officials who have as much to say as the marketplace itself about the interest rates that banks and consumers will pay on loans of many types. Entries range from two pages, for members who served their terms without attaining a high public profile (e.g., Wayland Wells Magee), to twenty pages, for those chairmen (e.g., William McChesney Martin, Jr.) who have given the Fed a clearly discernible institutional character. The biographies focus on their subjects' government service and business or academic endeavors but also note educational background and personal facts, such as marriages. They also trace the political, social, and economic environments in which the Fed functioned during the members' service. All Fed Board nominees must receive Senate confirmation; yet, few of the bibliographies cite the governor's confirmation hearings! The lack of a chronological table of governors noting dates of service, such as one finds as an appendix in Carl Moore's The Federal Reserve System (Jefferson, NC: McFarland, 1990), is unfortunate. Despite these shortcomings the bottom line reveals a balance decidedly in the dictionary's favor as a source of insightful, analytical biographies of the members of this select, influential body.?-Wilson Library Bulletin