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Edward G. Boehne
1981–2000Reserve Bank PresidentFederal Reserve History
Born
1941
Meetings at the table
201
201/216 (15 absent)
Meetings in the room
1
1992–1992
Geography
president at Philadelphia (3) · where the Board comes from
In their time
Meetings by Chair
Policy rate
10% → 6.5%
−350 bp · Oct 1982 – May 2000 (the series starts in Oct 1982)
In the room
- Alternate Members of the Federal Open Market Committee1 meetingDec 22, 1992
Seats held
- Reserve Bank PresidentPhiladelphia1981–2000
Feb 1, 1981 – May 31, 2000
Before the Fed
Economist · Federal Reserve Bank of Philadelphia
Education
- Bachelor's, Economics — Indiana University
- Master's, Economics — Indiana University
- PhD, Economics — Indiana University
Terminal: PhD · economics
Dissents on the record (1)
Mr. Boehne supported a steady policy course, but he dissented because he objected to a directive that was biased toward tightening. Although recent developments suggested that inflation would be somewhat higher and real growth somewhat lower during the year than had been expected earlier, he did not believe recent data indicated a fundamental shift in the outlook for inflation or the economy. He was concerned that adopting a biased directive might prove to be an overreaction to temporary factors affecting the inflation rate and inflationary sentiment. In his view, underlying economic conditions did not point toward an extended period of higher inflation. While the pace of economic growth conceivably could quicken, it seemed just as likely that the tempo of business and consumer spending could diminish in the face of uncertainty about the stance of fiscal policy, particularly with regard to potential tax increases. Given these uncertainties, he had a strong preference for keeping an open mind about possible Committee action during the intermeeting period and, accordingly, favored a balanced policy directive.
