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Edward M. Gramlich
1997–2005GovernorWikipedia
Born
Jun 18, 1939
Died
Sep 5, 2007
Meetings at the table
72
72/74 (2 absent)
Geography
represented Richmond (5), past job · state of record Virginia · where the Board comes from
In their time
Meetings by Chair
Policy rate
5.5% → 3.5%
−200 bp · Nov 1997 – Aug 2005
Seats held
- GovernorBoard of Governors1997–2005
Nov 5, 1997 – Aug 31, 2005 · confirmed Oct 30, 1997 · represents the Richmond district (past job)
Before the Fed
Professor · University of Michigan
Education
- Bachelor's, Economics — Williams College (1961)
- Master's, Economics — Yale University (1962)
- PhD, Economics — Yale University (1965)
Terminal: PhD · economics
Dissents on the record (1)
Messrs. Gramlich and McTeer dissented because they preferred to ease monetary policy at this meeting. The economic expansion, which resumed almost a year ago, had recently lost momentum, and job growth had been minimal over the past year. With inflation already low and likely to decline further in the face of economic slack and rapid productivity growth, the potential cost of additional stimulus seemed low compared with the risk of further weakness.
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