Nancy Teeters | A Fed pioneer, 84
Nancy Teeters, 84, a onetime chief economist for the House Budget Committee who in 1978 became the first woman to serve on the Federal Reserve Board of Governors, the body that sets federal monetary policy, died Nov. 17 at an assisted-living facility in Stamford, Conn. She had complications from strokes, said her daughter, Ann Teeters Johnson.
Nancy Teeters, 84, a onetime chief economist for the House Budget Committee who in 1978 became the first woman to serve on the Federal Reserve Board of Governors, the body that sets federal monetary policy, died Nov. 17 at an assisted-living facility in Stamford, Conn. She had complications from strokes, said her daughter, Ann Teeters Johnson.
Mrs. Teeters was nominated to the Federal Reserve Board by President Jimmy Carter to fill the remainder of the term of Arthur Burns, who served as Fed chairman through most of the 1970s.
Mrs. Teeters joined the Fed's board of governors at a volatile time, with inflation rates soaring to almost 14 percent in 1979. As a liberal economist, she often disagreed with the policies espoused by then-Fed Chairman Paul Volcker and the more conservative majority of the seven-member board.
When her term expired in 1984, Mrs. Teeters moved to Connecticut to join IBM as director of economics. - Washington Post