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John J. Balles · Armchair FedWatcher · Kaleb Nygaard

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Federal Reserve History

John J. Balles

1972–1986

Reserve Bank PresidentFederal Reserve History

Born

1921

Meetings at the table

148

148/173 (25 absent)

Geography

president at San Francisco (12) · where the Board comes from

In their time

Meetings by Chair

Policy rate

10% → 7.75%

−225 bp · Oct 1982 – Feb 1986 (the series starts in Oct 1982)

Seats held

Reserve Bank PresidentSan Francisco1972–1986
Sep 25, 1972 – Feb 1, 1986

Before the Fed

Economist · Mellon Bank

Education

Bachelor's — State University of Iowa
Master's, Economics — Ohio State University

Terminal: Master's · economics

Dissents on the record (4)

September 18, 1979wanted tighter
May 22, 1979wanted easier
January 17–18, 1977wanted tighter
October 2, 1973wanted easier

Served alongside (534)

Chairs · 3

Arthur F. Burns1972–1978
G. William Miller1972–1979
Paul A. Volcker1975–1986

Governors · 21

Lyle E. Gramley1974–1985
J. Charles Partee1972–1986
Donald L. Kohn1986–1986
Andrew F. Brimmer1972–1974
David M. Lilly1972–1978
Emmett J. Rice

Rate moves

9 hikes · 7 cuts

15 holds at their meetings

Dissents witnessed

137

at 75 of 142 meetings

Unanimous

47%

67 of 142 meetings

Recessions

3

1973–75 · 1980 · 1981–82

US presidents

4

Nixon · Ford · Carter · Reagan

1979–1986

Frederick H. Schultz1979–1982

George W. Mitchell1972–1976

Henry C. Wallich1974–1986

J. Dewey Daane1972–1974

James L. Robertson1972–1973

Jeffrey M. Bucher1972–1976

John E. Sheehan1972–1975

Martha R. Seger1984–1986

Nancy H. Teeters1978–1984

Philip C. Jackson, Jr.1975–1978

Philip E. Coldwell1972–1980

Preston Martin1982–1986

Robert C. Holland1972–1976

Stephen S. Gardner1976–1978

Wayne D. Angell1979–1985

Reserve Bank presidents · 27

Robert P. Forrestal1979–1986
Alfred Hayes1972–1975
Anthony M. Solomon1980–1984
Aubrey N. Heflin1972–1973
Bruce K. Maclaury1972–1977
Darryl R. Francis1972–1976
David P. Eastburn1972–1981
E. Gerald Corrigan1980–1986
Edward G. Boehne1981–1986
Ernest T. Baughman1972–1980
Frank E. Morris1972–1986
Gary H. Stern1985–1986
George H. Clay1972–1976
J. Roger Guffey1976–1986
Jack Guynn1984–1986
Karen N. Horn1982–1986
Lawrence K. Roos1976–1983
Mark H. Willes1977–1980
Monroe Kimbrel1972–1980
Robert H. Boykin1976–1986
Robert P. Black1972–1986
Robert P. Mayo1972–1981
Silas Keehn1981–1986
Theodore H. Roberts1983–1984
Thomas C. Melzer1985–1986
William F. Ford1980–1983
Willis J. Winn1972–1982

Staff · 68

Stephen H. Axilrod1976–1985
James L. Kichline1977–1986
Edwin M. Truman1977–1986
Thomas J. O'Connell1972–1973
John E. Reynolds1976–1976
Michael Bradfield1981–1986
Ralph C. Bryant1972–1975
John B. Williams1973–1982
Bryant Davis1973–1976
Neal L. Petersen1978–1980
Thomas M. Timlen, Jr.1976–1986
David C. Melnicoff1973–1973
Robert W. Eisenmenger1984–1986
Richard L. Smoot1977–1986
James A. McIntosh1972–1983
Eugene A. Leonard1972–1976
Frederic Solomon1972–1975
Daniel M. Doyle1974–1986
Thomas E. Gainor1978–1986
Chester B. Feldberg1973–1973
A. B. Merritt1972–1972
Albert R. Hamilton1977–1978
Allen E. Beutel1985–1986
Andrew F. Oehmann1974–1974
Brenton C. Leavitt1974–1976
Bruce M. Beardsley1985–1986
Carl E. Powell1986–1986
Charles L. Hampton1974–1984
Clement A. Van Nice1974–1977
Clyde H. Farnsworth, Jr.1982–1986
David L. Shannon1976–1986
Donal E. Anderson1979–1983
Donald W. Moriarty, Jr.1977–1982
E. O. Latham1972–1972
George C. Rankin1974–1979
Griffith L. Garwood1982–1986
Henry R. Czerwinski1977–1986
James R. Kudlinski1975–1981
Janet O. Hart1976–1981
Jerold E. Slocum1972–1973
Jimmie R. Monhollon1980–1986
John D. Hawke, Jr.1975–1977
John E. Ryan1977–1984
John M. Denkler1975–1982
John T. Boysen1972–1976
Joseph E. Kelleher1972–1972
Joseph P. Garbarini1983–1986
Keith D. Engstrom1973–1975
Kyle K. Fossum1972–1978
M. H. Strothman, Jr.1972–1973
Mark H. Wiles1972–1976
Richard A. Debs1973–1975
Richard T. Griffith1983–1985
Robert E. Frazier1984–1986
Ronald G. Burke1972–1974
S. David Frost1983–1986
T. W. Plant1972–1975
Theodore E. Allison1974–1986
Tynan Smith1972–1972
Walter H. MacDonald1972–1981
Walter W. Kreimann1973–1978
William F. Treiber1972–1972
William H. Hendricks1982–1986
William H. Wallace1975–1986
William R. Jones1985–1985
William Taylor1985–1986
William W. Wiles1981–1986
Williiam R. Jones1986–1986

Reserve Bank directors · 415

Jean McArthur Davis1977–1982
John B. Davis, Jr.1982–1986
Alfred E. Jordan1972–1973
Dale V. Andersen1972–1973
A. Bruce Bowden1972–1974
A. Robert Abboud1976–1979
A.L. Ellis1972–1973
A.W. Riter, Jr.1972–1974
Alan C. Furth1980–1986
Alan R. Sleeper1976–1981
Albert G. Clay1972–1972
Alden Winship Clausen1973–1976
Alfred Brittain III1983–1985
Alfred W. Van Sinderen1973–1978
Andrew L. Clark1974–1979
Armand C. Stalnaker1977–1982
Arnold Robert Weber1978–1979
Arthur J. Decio1978–1980
Arthur S. Hamlin1972–1972
Barry F. Sullivan1985–1986
Bayard L. England1972–1972
Bernard D. Broeker1973–1974
Bernard Francis Sliger1983–1986
Bobby R. Inman1984–1986
Boris Yavitz1977–1982
Bradford Brett1972–1973
Bradley Currey, Jr.1984–1986
Bruce B. Dayton1972–1975
Burton P. Allen, Jr.1984–1986
C. Graham Berwind, Jr.1972–1975
Carl D. Newton1972–1973
Carl E. Schroeder1972–1977
Carl E. Singley1984–1986
Carol R. Goldberg1978–1982
Caroline Leonetti Ahmanson1980–1984
Carolyn S. Chambers1985–1986
Carroll F. Byrd1972–1972
Cecil O. Emrich1972–1975
Cecil W. Cupp, Jr.1972–1972
Charles C. Gates1980–1984
Charles F. Jones1972–1973
Charles F. Seymour1985–1986
Charles M. Bliss1983–1984
Charles Mose Miller1972–1973
Charles R. Dahl1972–1977
Charles S. McNeer1986–1986
Charles T. Beaird1973–1978
Charles T. Doyle1986–1986
Charles T. Undlin1974–1976
Charles W. Poe, Jr.1977–1977
Charles Y. Lazarus1974–1979
Clair L. Peck, Jr.1974–1982
Clarence Albert Tatum, Jr.1972–1972
Clarence C. Barksdale1981–1986
Clarence D. McCormick1986–1986
Clifford M. Kirtland, Jr.1974–1978
Clifton Reginald Wharton, Jr.1983–1986
Cornell C. Maier1975–1981
Craig Bachman1975–1978
Curtis W. Kuehn1983–1985
Dale W. Fern1982–1984
Dan B. Andrews1980–1985
Daniel M. Galbreath1986–1986
David L. Brumback, Jr.1972–1975
David M. Heskett1972–1975
David M. Smith1973–1975
David Rockefeller1973–1976
Dennis W. Hunt1979–1984
Donald D. Hoffman1985–1986
Donald E. Noble1972–1977
Donald J. Gehb1985–1986
Donald J. Hall1974–1976
Donald J. Seebold1978–1982
Donald L. Hunt1980–1985
Donald N. Brandin1975–1980
Donald P. Helgeson1975–1980
Doris M Drury1980–1984
Dorothy Wright Nelson1977–1979
Douglas E. Johnson1982–1984
Duane Calvin Acker1982–1985
Duane W. Ring1986–1986
E. Angus Powell1974–1978
E. Craig Wall, Sr.1972–1977
E. Mandell de Windt1981–1986
E.B. Robinson, Jr.1985–1986
Eberhard Faber, IV1980–1985
Edward Byron Smith1972–1975
Edward D. Powers1985–1986
Edward F. Brabec1978–1984
Edward H. Covell1986–1986
Edward J. Dwyer1972–1975
Edward J. Schnuck1972–1977
Edward L. Hennessy, Jr.1980–1984
Edward N. Evans1972–1974
Edward W. Barker1972–1975
Edward W. Robinson, Jr.1972–1973
Edwin S. Jones1972–1974
Ellison L. Hazard1972–1972
Ellmore C. Patterson1977–1979
Emerson G. Higdon1972–1972
Everett L. Maffett1979–1981
F. Evans Farwell1972–1975
Floyd D. Gottwald, Jr.1985–1986
Floyd F. Whitmore1972–1974
Floyd W. Lewis1979–1981
Francis Norman Southworth1974–1976
Frank A. Jones, Jr.1981–1986
Frank B. Robards, Jr.1977–1979
Frank C. Love1972–1977
Frank Junell1975–1980
Frank R. Milliken1972–1977
Frank Ray Keyser, Jr.1972–1972
Fred A. White1979–1981
Fred Adams, Jr.1976–1981
Fred I. Brown, Jr.1972–1976
Fred W. Andrew1982–1986
Frederic H. Phillips1978–1980
Frederic M. Peirce1972–1973
Frederick G. Larkin, Jr.1977–1982
Frederick W. Lyons, Jr.1985–1986
Gene D. Adams1974–1979
Gene Edwards1985–1986
George Dean Johnson, Jr.1984–1985
George E. Bartol, III1982–1986
George H. Weyerhauser1982–1986
George M. Ryrie1979–1984
George Nicholas Hatsopoulos1982–1986
George W. Jenkins1973–1978
Gerald D. Hines1975–1983
Gertrude G. Michelson1978–1984
Gordon T. Wallis1980–1982
Guy W. Botts1979–1984
H. Alan Timm1980–1982
H. Dail Holderness1972–1973
H.G. Pattillo1972–1977
Hanne Merriman1985–1986
Harold A. Shaub1975–1978
Harold B. Blach, Jr.1981–1986
Harold F. Zigmund1981–1986
Harold L. Gerhart, Jr.1986–1986
Harold W. Andersen1973–1979
Harry A. Jensen1980–1983
Harry J. Taw1976–1977
Harry M. Young, Jr.1972–1976
Harry R. Mitiguy1986–1986
Hays T. Watkins1978–1980
Henry Clay Hofheimer, II1972–1977
Henry N. Ness1980–1982
Henry S. Woodbridge, Jr.1981–1983
Homer B. Ellis, Jr.1985–1986
Horace A. Shepard1972–1977
Horatio C. Thompson1982–1986
Hoskins A. Shadow1972–1973
Howard K. Loomis1979–1985
Howard M. Packard1972–1973
Howard R. Swearer1974–1976
Hugh A. Curry1972–1972
Hugh F. Steen1972–1974
Hugh G. Robinson1985–1986
Hugh L. Hembree III1985–1986
Hugh M. Willson1978–1983
Irvine O. Hockaday, Jr.1984–1986
Irving A. Mathews1974–1980
J. Banks Scarborough1981–1983
J. David Barnes1981–1986
J. Owen Cole1976–1978
J. Ward Keener1972–1973
J. Wayland Bennett1979–1984
J.L. Jackson1979–1983
J.R. Vaughan1978–1983
J.V. Kelly1972–1973
Jack B. Jackson1973–1976
Jack K. Busby1976–1978
Jack P. Keith1972–1977
James A. Chapman, Jr.1980–1982
James A. Hardison, Jr.1975–1977
James E. Phillips1973–1975
James Fairfield English, Jr.1975–1977
James G. Harlow, Jr.1978–1983
James H. Smaby1978–1980
James M. Kemper, Jr.1976–1978
James M. Tuholski1972–1974
James P. McFarland1974–1978
James Patchell1976–1978
James S. Duesenberry1972–1974
James Stokes Hatch1982–1984
James Whelden1978–1981
Jane C. Cousins1982–1986
Jay J. DeLay1974–1979
Jean A. Crockett1977–1982
Jerry D. Geist1986–1986
Jesse M. Shaver1982–1986
JoAnne Brinzey1983–1985
Joe F. Kirby1980–1982
John A. Gelbach1978–1980
John A. McKinney1978–1979
John A. O'Leary1972–1974
John A. Rollwagen1986–1986
John Bosshard1972–1972
John C. Hampton1984–1986
John C. Tuten1973–1974
John C. Wilson1972–1973
John D. Anderson1981–1983
John D. Robinson1976–1978
John D. Woods1979–1984
John F. Anderson1981–1984
John F. Spies1975–1980
John F. Welch, Jr.1985–1986
John H. Bailey1972–1974
John H. Lumpkin1973–1975
John H. Walther1984–1986
John H. Weitnauer, Jr.1980–1986
John Hunter, Jr.1977–1979
John J. Dwyer1976–1978
John J. Hassler1973–1975
John L. Gushman1972–1973
John Lawrence1972–1976
John M. Fox1972–1975
John P. Gilliam1980–1985
John R. Biechler1979–1980
John R. Hall1984–1986
John R. Miller1986–1986
John R. Mulhearn1977–1978
John R. Opel1981–1986
John Royston Coleman1972–1976
John S. Rouzie1976–1978
John Sagan1978–1983
John T. Hackett1972–1977
John T. Oliver, Jr.1974–1979
John V. James1981–1984
John W. Alford1976–1982
John W. Baird1972–1973
John W. Eckman1976–1981
John W. Gabbert1986–1986
John W. Kessler1980–1985
Joseph A. Baute1981–1986
Joseph A. Jennings1982–1984
Joseph F. Alibrandi1973–1979
Joseph H. Williams1975–1980
Joseph Rosenblatt1972–1975
K. Donald Menefee1986–1986
Kenneth I. Guscott1974–1979
L. Kent Gilbreath1979–1986
Leo H. Schoenhofen1975–1977
Leon A. Dunn, Jr.1981–1983
Leon T. Kendall1981–1986
Leroy T. Canoles, Jr.1984–1986
Lewis Honyman Bond1979–1984
Lewis R. Smoot, Sr.1984–1985
Lewis T. Preston1986–1986
Louis Wellington Cabot1972–1978
Maceo A. Sloan1976–1981
Malcolm T. Stamper1976–1981
Marcus Alexis1985–1986
Margaret S. Wilson1977–1982
Mark C. Wheeler1972–1974
Marron Kendrick1972–1973
Mary Garst1979–1985
Mary P. Holt1980–1986
Mary W. Walker1984–1986
Mas Oji1972–1974
Matina Souretis Horner1983–1986
Maurice B. Mitchell1977–1977
Maurice F. Granville1972–1979
Maurice R. Forman1972–1972
Max J. Naylor1986–1986
Melvin C. Lockard1972–1973
Merle E. Gilliand1975–1977
Michael Joseph Harrington1981–1986
Michael W. Wright1985–1986
Miles D. Wilson1981–1986
Murray Kyger1972–1972
Nels E. Turnquist1977–1979
Nevius M. Curtis1983–1986
Newman Edward Wait, Jr.1973–1975
Nicholas Riso1986–1986
Norman Bassler1972–1974
Ole R. Mettler1978–1983
Ollie Jay Tomson1981–1986
Osby L. Weir1973–1976
Oscar G. Mayer1973–1978
Otis Arnold Singletary1973–1978
Owen Cooper1972–1973
Owen Meredith Wilson1972–1976
Patrick E. McNarny1980–1985
Paul E. Reichardt1977–1982
Paul G. Miller1979–1984
Paul H. Henson1977–1983
Paul K. Reynolds1986–1986
Paul V. Farver1974–1978
Peter B. Clark1973–1977
Peter D. Kiernan1981–1983
Philip Guthrie Hoffman1972–1972
Philip H. Nason1972–1973
Philip Hamm1974–1978
Philip J. Lee1972–1972
Plato P. Pearson1974–1976
R. Stanley Laing1972–1972
Ralph A. McIninch1972–1973
Ralph C. Bain1975–1980
Ralph J. Voss1972–1972
Ralph Z. Sorenson1986–1986
Rayburn S. Dezember1984–1986
Raymond C. Burroughs1974–1979
Raymond D. Campbell1982–1986
Raymond W. Bauer1977–1980
Rene C. McPherson1973–1975
Richard A. Herbster1972–1973
Richard D. Hannan1982–1986
Richard D. Harrison1984–1986
Richard D. Hill1978–1980
Richard L. Falconer1983–1986
Richard L. Gelb1986–1986
Richard M. Oster1985–1986
Richard P. Hauser1979–1984
Richard P. Raish1977–1978
Robert A. Georgine1983–1986
Robert A. Rough1982–1984
Robert A. Young1979–1983
Robert D. Kilpatrick1979–1981
Robert D. Rogers1980–1986
Robert E. Kirby1974–1980
Robert F. Baronner1985–1986
Robert G. Lueder1985–1986
Robert H. Deacon1979–1981
Robert H. Knight1976–1982
Robert H. Stewart, III1973–1978
Robert Henry Strotz1974–1979
Robert J. Day1984–1986
Robert J. Sweeney1983–1986
Robert L. Hollis1986–1986
Robert L. Pfluger1985–1986
Robert L. Virgil, Jr.1983–1986
Robert M. Landis1981–1986
Robert M. Solow1975–1980
Robert Paul Henderson1979–1984
Robert S. Chiles, Sr.1984–1986
Robert S. Hillas1981–1983
Robert S. Small1972–1972
Robert T. Hornbeck1974–1976
Robert T. Person1972–1976
Robert Ted Enloe, III1983–1986
Robert W. Lawson1972–1975
Robert W. Moyer1985–1986
Robert W. Wagstaff1972–1974
Roger D. Knight, Jr.1972–1975
Roger E. Anderson1980–1982
Ronald H. Smith1985–1986
Ronald S. Hanson1976–1978
Roswell Leavitt Gilpatric1972–1975
Roy H. Johnson1972–1974
Russ B. Hart1972–1973
Russell G. Cleary1976–1981
S. Alfred Halgren1972–1972
S. John Brademas1983–1986
Sam Cooper1972–1975
Sam I. Yarnell1973–1978
Sister Generose Gervais1978–1985
Spencer F. Eccles1983–1986
Stanton R. Cook1980–1985
Stephen F. Keating1976–1981
Steven Muller1978–1983
Stewart Orton1974–1979
Stuart McCarty1975–1976
Stuart Shumate1972–1973
T. Joseph Semrod1984–1986
Thomas A. Jordan1978–1980
Thomas B. Cookerly1984–1986
Thomas Irving Atkins1980–1985
Thomas K. Smith Jr.1974–1981
Thomas L. Miller1974–1976
Thomas M. Strong1985–1986
Thomas P. McLachlen1972–1973
Thomas William Herrick1973–1978
Togo W. Tanaka1983–1986
Ulysses V. Goodwyn1974–1980
Vern A. Marquardt1981–1983
Vincent C. Burke, Jr.1979–1981
Virgil H. Moore1986–1986
Virginia A. Dwyer1985–1986
Virginia M. Bailey1977–1979
W. Gordon Robertson1972–1974
W.J. Smouse1977–1977
W.L. Hadley Griffin1982–1986
Walter J. Robb1979–1981
Warren B. Jones1974–1979
Werner C. Brown1976–1980
Weston P. Figgins1975–1980
Willard D. Hosford, Jr.1972–1972
Willard H. Derrick1983–1985
William A. Fickling, Jr.1978–1983
William A. Stroud1983–1986
William B. Eagleson, Jr.1975–1977
William B. Mills1972–1972
William B. Walton1976–1981
William E. Ryan1975–1977
William E. Weigel1973–1978
William G. Phillips1979–1984
William H. Davidson1972–1972
William H. Franklin1972–1974
William H. Knoell1981–1986
William H. Stroube1978–1981
William L. Mathers1982–1986
William M. Dickson1980–1982
William M. Honey1972–1975
William R. Cosby1972–1972
William S. Cook1980–1985
William S. Edgerly1984–1986
William S. Lee, III1982–1984
William S. Masland1973–1979
William S. Renchard1972–1972
William Scott Sneath1973–1980
William Wardwell Treat1983–1985
Wilson M. Brown, Jr.1978–1978
Zane G. Murfitt1980–1981

Lineage

San FranciscoSwan1961–1972→1972–1986 · 3.8 months vacant before→Parry1986–2004

Who held each seat