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Thomas C. Melzer · Armchair FedWatcher · Kaleb Nygaard

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Federal Reserve History

Thomas C. Melzer

1985–1998

Reserve Bank PresidentFederal Reserve History

Meetings at the table

140

140/146 (6 absent)

Geography

president at St. Louis (8) · where the Board comes from

In their time

Meetings by Chair

Policy rate

7.75% → 5.5%

−225 bp · Jun 1985 – Jan 1998

Seats held

Reserve Bank PresidentSt. Louis1985–1998
Jun 1, 1985 – Jan 31, 1998

Before the Fed

Banker · Morgan Stanley

Education

Bachelor's, Electrical Engineering — Stanford University (1966)
Master's, Electrical Engineering — Stanford University (1968)

Terminal: Master's · engineering

Dissents on the record (9)

November 17, 1992dissented
October 6, 1992dissented
August 18, 1992dissented
June 30 – July 1, 1992dissented
December 18–19, 1989wanted tighter
May 16, 1989wanted easier
February 10–11, 1987wanted tighter
August 19, 1986

Dissents

9 total dissents as a Governor (4 tighter / 1 easier) · rank #15 in cohort

Served alongside (507)

Chairs · 3

Alan Greenspan1987–1998
Janet L. Yellen1994–1997
Paul A. Volcker1985–1987

Governors · 21

Donald L. Kohn1986–1998
Alan S. Blinder1994–1996
Alice M. Rivlin1996–1998
David W. Mullins, Jr.1990–1994
Edward M. Gramlich1997–1998
Edward W. Kelley Jr.

Rate moves

21 hikes · 26 cuts

75 holds at their meetings

Dissents witnessed

82

at 53 of 111 meetings

Unanimous

52%

58 of 111 meetings

Recessions

1

1990–91

US presidents

3

Reagan · G.H.W. Bush · Clinton

wanted tighter

July 8–9, 1986wanted tighter

1987–1998

Elizabeth A. Duke1998–1998

Emmett J. Rice1985–1986

H. Robert Heller1986–1989

Henry C. Wallich1985–1986

J. Charles Partee1985–1986

John P. Laware1988–1995

Laurence H. Meyer1996–1998

Lawrence B. Lindsey1991–1997

Lyle E. Gramley1985–1985

Manuel H. Johnson1986–1990

Martha R. Seger1985–1991

Preston Martin1985–1986

Roger W. Ferguson Jr.1997–1998

Susan M. Phillips1991–1998

Wayne D. Angell1985–1994

Reserve Bank presidents · 23

Cathy E. Minehan1991–1998
E. Gerald Corrigan1985–1993
Edward G. Boehne1985–1998
Frank E. Morris1985–1988
Gary H. Stern1985–1998
J. Alfred Broaddus Jr.1993–1998
J. Roger Guffey1985–1991
Jack Guynn1985–1998
Jerry L Jordan1992–1998
John J. Balles1985–1986
Karen N. Horn1985–1987
Michael H. Moskow1994–1998
Richard F. Syron1989–1994
Robert D. Mcteer Jr.1991–1998
Robert H. Boykin1985–1991
Robert P. Black1985–1992
Robert P. Forrestal1985–1995
Robert T. Parry1986–1998
Sandra Pianalto1993–1998
Silas Keehn1985–1994
Thomas M. Hoenig1991–1998
W. Lee Hoskins1987–1991
William J. Mcdonough1993–1998

Staff · 52

Michael J. Prell1987–1998
Edwin M. Truman1985–1997
J. Virgil Mattingly, Jr.1989–1998
Michael Bradfield1985–1988
James H. Oltman1988–1994
Ernest T. Patrikis1995–1997
William W. Wiles1985–1997
Ann-Marie Meulendyke1985–1995
James L. Kichline1985–1986
William H. Hendricks1985–1992
Allen E. Beutel1985–1990
Barry R. Snyder1998–1998
Brent L. Bowen1987–1997
Bruce M. Beardsley1985–1990
Carl E. Powell1986–1990
Clyde H. Farnsworth, Jr.1985–1998
Colleen K. Strand1993–1998
Daniel M. Doyle1985–1991
David L. Shannon1985–1997
Dolores S. Smith1998–1998
Griffith L. Garwood1985–1997
Helen E. Holcomb1996–1998
Henry R. Czerwinski1985–1993
James R. Bowen1987–1995
Jennifer J. Johnson1998–1998
Jimmie R. Monhollon1985–1994
John F. Moore1996–1998
Joseph P. Garbarini1985–1986
Karen H. Johnson1998–1998
Patrick K. Barron1991–1998
Paul M. Connolly1994–1998
Richard K. Rasdall, Jr.1994–1998
Richard L. Smoot1985–1986
Richard Spillenkothen1991–1998
Richard T. Griffith1985–1985
Robert E. Frazier1985–1998
Robert W. Eisenmenger1985–1990
S. David Frost1985–1998
Stephen H. Axilrod1985–1985
Stephen R. Malphrus1991–1998
Theodore E. Allison1985–1990
Thomas E. Gainor1985–1992
Thomas M. Timlen, Jr.1985–1987
Tony J. Salvaggio1991–1995
W. Legrande Rives1996–1998
Walter A. Varvel1995–1998
William C. Conrad1992–1998
William H. Stone, Jr.1987–1998
William H. Wallace1985–1990
William R. Jones1985–1985
William Taylor1985–1990
Williiam R. Jones1986–1990

Reserve Bank directors · 408

John B. Davis, Jr.1985–1987
John R. Miller1986–1992
Delbert W. Johnson1988–1993
A. Charlene Sullivan1991–1996
A. Drue Jennings1995–1997
A. Pierce Stone1990–1992
A. William Reynolds1991–1996
Alan C. Furth1985–1986
Albert B. Murry1996–1998
Alberto M. Paracchini1987–1989
Alfred Brittain III1985–1985
Alfred C. Leist1991–1996
Andre M. Rubenstein1991–1996
Ann M. Fudge1996–1998
Anne Marie Whittemore1989–1993
Arnold C. Schultz1993–1998
Arthur C. Martinez1996–1998
B.F. "Chip" Backlund1987–1992
Barbara Harding1991–1993
Barry F. Sullivan1985–1990
Bernard Francis Sliger1985–1988
Bobby R. Inman1985–1990
Bradley Currey, Jr.1985–1989
Bruce A. Schriefer1998–1998
Bruce C. Adams1988–1992
Bruce Parker1998–1998
Burton A. Dole, Jr.1989–1994
Burton P. Allen, Jr.1985–1986
Carl E. Singley1985–1989
Carl J. Schmitt1993–1995
Carl L. Campbell1993–1995
Carolyn S. Chambers1985–1991
Cece Smith1992–1997
Charisse R. Lillie1996–1998
Charles Dickie Williamson1989–1989
Charles E. Weller1993–1995
Charles F. Seymour1985–1990
Charles I. Moyer1992–1994
Charles L. Seaman1991–1993
Charles S. McNeer1986–1991
Charles T. Doyle1986–1991
Charles W. Ekstrum1987–1989
Charles W. Nichols1994–1998
Charles W. Parry1987–1990
Cheryl L. Krueger-Horn1998–1998
Chester A. Duke1987–1989
Clarence C. Barksdale1985–1986
Clarence D. McCormick1986–1988
Clarence D. Mortenson1994–1996
Claude R. Hill, Jr.1989–1991
Claudine B. Malone1994–1998
Clifton Reginald Wharton, Jr.1985–1986
Colleen D. Hernandez1994–1998
Constantinos I. Costalas1988–1990
Cordell W. Hull1988–1990
Craig A. Ruppert1996–1998
Curtis W. Kuehn1985–1985
Cynthia A. Parker1993–1998
Cyrus R. Vance1989–1992
D. Paul Jones, Jr.1994–1998
Dale J. Emmel1996–1998
Dan B. Andrews1985–1985
Dan Duane Angel1997–1998
Daniel E. Sweat, Jr.1994–1996
Daniel M. Galbreath1986–1988
David A. Daberko1996–1998
David A. Hamburg1994–1994
David A. Koch1994–1998
David A. Page1992–1994
David B. Lee1997–1998
David H. Hoag1997–1998
David L. Nichols1997–1998
David R. Jones1996–1998
David S. Dahlmann1995–1998
David W. Fox1991–1996
David W. Huggins1990–1995
David W. Kemper II1987–1989
Dennis E. Barrett1997–1998
Dennis W. DiLazzero1995–1997
Dennis W. Johnson1993–1998
Don E. Adams1991–1993
Donald D. Hoffman1985–1987
Donald J. Gehb1985–1987
Donald J. Kennedy1991–1997
Donald J. Schneider1993–1998
Donald L. Hunt1985–1985
Douglas E. Olesen1989–1994
Douglas M. Lester1993–1998
Duane Calvin Acker1985–1985
Duane E. Dingmann1989–1994
Duane L. Burnham1992–1994
Duane W. Ring1986–1988
Dudley K. Montgomery1996–1998
E. Kay Stepp1991–1995
E. Lynn Caswell1997–1998
E. Mandell de Windt1985–1986
E.B. Robinson, Jr.1985–1990
Earl R. St. John, Jr.1988–1993
Eberhard Faber, IV1985–1985
Edward B. Brandon1993–1995
Edward D. Powers1985–1990
Edward Dugger, III1995–1998
Edward H. Covell1986–1991
Edward H. Ladd1989–1994
Edwin A. Huston1988–1993
Edwin N. Clift1998–1998
Ellen Victoria Futter1988–1993
Eugene M. Phillips1992–1996
Eugene R. McGrath1995–1998
Floyd D. Gottwald, Jr.1985–1987
Frank A. Jones, Jr.1985–1986
Frank A. McPherson1990–1992
Frank A. Potenziani1996–1998
Frank J. Yaklich, Jr.1989–1994
Frank M. Mitchener, Jr.1987–1992
Frank Wobst1987–1992
Fred W. Andrew1985–1987
Frederick J. Mancheski1997–1997
Frederick W. Lyons, Jr.1985–1991
G. Kenneth Perine1996–1998
G. Watts Humphrey, Jr.1993–1998
Gary E. Burl1989–1989
Gary E. Wood1987–1992
Gary F. Simmerman1991–1993
Gary G. Michael1994–1998
Gary J. Chouest1988–1990
Gayle Maltby Earls1994–1998
Gene Edwards1985–1987
George A. Butler1987–1989
George A. Didden, III1996–1998
George Dean Johnson, Jr.1985–1985
George E. Bartol, III1985–1987
George H. Weyerhauser1985–1987
George Nicholas Hatsopoulos1985–1989
George W. Hamlin, IV1997–1998
Gerald A. Rauenhorst1990–1995
Gerry Boyd Cameron1995–1997
Glenn A. Schaeffer1998–1998
Gunnar E. Sarsten1989–1989
H. Bernard Lynch1990–1994
H. Edwin Trusheim1987–1992
Hanne Merriman1985–1990
Hans Helmerich1997–1998
Harold B. Blach, Jr.1985–1986
Harold F. Zigmund1985–1986
Harold L. Gerhart, Jr.1986–1992
Harry Elwell, III1998–1998
Harry R. Mitiguy1986–1986
Henry G. Cisneros1991–1991
Henry G. River, Jr.1989–1994
Henry J. Faison1990–1995
Herbert L. Washington1993–1995
Herman Cain1992–1995
Homer B. Ellis, Jr.1985–1987
Horatio C. Thompson1985–1987
Howard E. Cosgrove1996–1998
Howard K. Loomis1985–1985
Howard L. McMillan, Jr.1997–1998
Hugh G. Robinson1985–1991
Hugh L. Hembree III1985–1990
Hugh M. Brown1992–1997
I.N. Rendall Harper, Jr.1993–1998
Ira Stepanian1993–1994
Irvine O. Hockaday, Jr.1985–1988
J. Carter Bacot1995–1997
J. David Barnes1985–1986
J. Kirby Fowler1988–1990
J. Richard Jones1993–1998
J. Thomas Holton1990–1995
J. Walter McDowell1997–1998
J. William Johnson1994–1996
J.B. Cooper, Jr.1991–1996
Jack B. Evans1998–1998
Jack C. Smith1988–1990
James A. Hagen1992–1994
James A. Martin1993–1998
James Arthur Vohs1990–1996
James B. Williams1991–1996
James E. Haden1998–1998
James G. Lindley1991–1993
James H. Hearon, III1989–1991
James J. Howard1996–1998
James J. Norton1998–1998
James M. Mead1991–1995
Jane C. Cousins1985–1987
Jane C. Walsh1995–1997
Jane G. Pepper1988–1993
Janet McAfee Weakley1988–1993
Jean D. Kinsey1991–1997
Jeff Austin, Jr.1993–1993
Jeremiah J. Sheehan1997–1998
Jerome H. Grossman1990–1996
Jerry B. Melby1994–1996
Jerry D. Geist1986–1988
Jesse M. Shaver1985–1987
Jo Marie Dancik1995–1998
Joan Carter1994–1998
Joan T. Bok1990–1995
JoAnne Brinzey1985–1985
Joel B. Alvord1988–1989
Joel S. Harris1988–1990
John A. Georges1987–1992
John A. Rollwagen1986–1989
John C. Hampton1985–1989
John C. Whitehead1995–1998
John E. Flynn1991–1996
John F. McDonnell1993–1998
John F. McGillicuddy1988–1991
John F. McNair, III1988–1990
John F. Welch, Jr.1985–1990
John F. Wieland1997–1998
John H. Walther1985–1986
John H. Weitnauer, Jr.1985–1986
John N. Nordstrom1988–1993
John P. Gilliam1985–1985
John R. Hall1985–1986
John R. Hodges1991–1993
John R. Opel1985–1988
John V. Rindlaub1998–1998
John W. Gabbert1986–1991
John W. Kessler1985–1985
Joseph A. Baute1985–1987
Joseph E. Gliessner, Jr.1997–1998
Juanita P. Baranco1997–1998
Judith Manville Runstad1992–1997
Julie Spicer England1997–1998
K. Donald Menefee1986–1988
Kathryn A. Ogren1995–1998
Keith D. Bjerke1987–1987
Kirk A. McLaughlin1995–1998
Krestine M. Corbin1995–1998
L. Kent Gilbreath1985–1986
L. Newton Thomas, Jr.1992–1997
Laban P. Jackson, Jr.1987–1992
Larry L. Prince1987–1991
Larry W. Kinderman1996–1996
Lawrence W. Menefee1994–1996
Leo Benatar1990–1995
Leo E. Linbeck, Jr.1987–1993
Leon T. Kendall1985–1986
Leroy T. Canoles, Jr.1985–1989
Lester H. McKeever, Jr.1995–1998
Lewis R. Smoot, Sr.1985–1985
Lewis T. Preston1986–1987
Lynn M. Hoghaug1997–1998
Marcus Alexis1985–1990
Maria Camila Leiva1995–1998
Marshall N. Carter1995–1998
Mary Garst1985–1985
Mary P. Holt1985–1986
Mary W. Walker1985–1989
Matina Souretis Horner1985–1988
Maurice R. Greenberg1988–1995
Max J. Naylor1986–1991
Michael A. Alexander1995–1998
Michael Joseph Harrington1985–1986
Michael W. Wright1985–1990
Michele Tolela Myers1995–1997
Migdalia Rivera1997–1998
Miles D. Wilson1985–1986
Milton Carroll1993–1996
Nelson C. Rising1998–1998
Nevius M. Curtis1985–1988
Nicholas Riso1986–1991
Norman F.C. Kent1991–1991
Ollie Jay Tomson1985–1986
Patrick E. McNarny1985–1985
Paul A. DelaCourt1991–1996
Paul J. Schierl1987–1992
Paul K. Reynolds1986–1987
Paul W. Green1987–1989
Paula Lovell1998–1998
Peter A. Benoliel1987–1992
Peter G. Peterson1996–1998
Peyton Yates1990–1995
Philip L. McLaughlin1995–1997
R. Blair Hawkes1988–1990
Ralph Z. Sorenson1986–1987
Rand V. Araskog1991–1993
Ray L. Hunt1998–1998
Ray U. Tanner1991–1993
Rayburn S. Dezember1985–1989
Raymond D. Campbell1985–1987
Richard D. Hannan1985–1987
Richard D. Harrison1985–1989
Richard D. Wardell1988–1990
Richard E. Bell1993–1998
Richard G. Cline1990–1995
Richard L. Falconer1985–1988
Richard L. Gelb1986–1991
Richard L. Mount1991–1996
Richard L. Taylor1988–1990
Richard M. Oster1985–1989
Richard Newell Cooper1987–1992
Rob L. Wheeler1997–1998
Robert A. Georgine1985–1988
Robert C. McNair1996–1998
Robert D. Burris1995–1998
Robert D. Rogers1985–1986
Robert D. Storey1987–1990
Robert E. Allen1992–1994
Robert E. Atkinson, Jr.1990–1995
Robert F. Baronner1985–1987
Robert F. Erburu1987–1992
Robert G. Greer1987–1992
Robert G. Lueder1985–1987
Robert G. Wilmers1993–1998
Robert H. Quenon1990–1995
Robert J. Darnall1997–1998
Robert J. Day1985–1989
Robert J. Sweeney1985–1988
Robert L. Hollis1986–1991
Robert L. Johnson1998–1998
Robert L. Newell1987–1987
Robert L. Pfluger1985–1990
Robert L. Strickland1996–1998
Robert L. Virgil, Jr.1985–1989
Robert M Freeman1994–1996
Robert M. Healey1991–1996
Robert M. Landis1985–1986
Robert M. Silva1992–1994
Robert R. Glauber1996–1998
Robert R. Yohanan1998–1998
Robert S. Attiyeh1997–1998
Robert S. Chiles, Sr.1985–1986
Robert Ted Enloe, III1985–1988
Robert W. Moyer1985–1987
Robert Y. Farrington1994–1998
Rodney W. Fouberg1990–1992
Roger L. Reisher1988–1993
Roger R. Hemminghaus1994–1998
Roger W. Schipke1988–1990
Ronald H. Smith1985–1987
Ronald N. Zwieg1998–1998
Ronay Menschel1998–1998
S. Dean Evans, Sr.1987–1990
S. John Brademas1985–1987
Samuel A. McCullough1990–1992
Samuel P. Baird1995–1997
Sandra B. Sanderson-Chesnut1992–1997
Sandra Feldman1994–1995
Saundra H. Gray1989–1991
Simpson Russell1992–1993
Sister Generose Gervais1985–1985
Spencer F. Eccles1985–1988
Stanley T. Skinner1996–1998
Stanton R. Cook1985–1985
Stefan S. Anderson1992–1997
Stephen Brobeck1991–1996
Stephen L. Brown1994–1998
Stephen R. Levy1988–1993
Susan S. Elliot1996–1998
Susanne V. Boxer1993–1995
Suzanne E. Boas1998–1998
T. Joseph Semrod1985–1986
Terrence Murray1990–1992
Terrence P. Dunn1998–1998
Terry K. Dunkle1994–1996
Thomas B. Cookerly1985–1989
Thomas C. Dorr1992–1997
Thomas Claiborne Frost1988–1993
Thomas E. Rodriguez1988–1993
Thomas F. McLarty III1989–1991
Thomas G. Labrecque1992–1994
Thomas Irving Atkins1985–1985
Thomas M. Nies1994–1996
Thomas M. Strong1985–1987
Thomas W. Jones1996–1997
Tiney M. McComb1997–1998
Togo W. Tanaka1985–1988
Veo Peoples, Jr.1994–1998
Verna K. Gibson1988–1993
Verne G. Istock1997–1998
Victor J. Riley, Jr.1990–1992
Victoria B. Jackson1992–1994
Virgil H. Moore1986–1991
Virginia A. Dwyer1985–1987
W.D. Glover1994–1998
W.E. Ayres1990–1992
W.H. Swain1990–1995
W.L. Hadley Griffin1985–1987
Walter V. Shipley, II1998–1998
Warren Bruce Rudman1993–1994
Warren K.K. Luke1990–1998
Warren R. Lee1991–1996
Waymon L. Hickman1996–1998
Wayne W. Allen1993–1995
Webb C. Hayes, IV1992–1994
Wesley S. Williams, Jr.1997–1998
Willard H. Derrick1985–1985
William A. Stroud1985–1988
William C. Brainard1995–1998
William C. Bullock, Jr.1987–1988
William C. Steere, Jr.1993–1996
William E.B. Siart1989–1994
William H. Chadwick1989–1991
William H. Knoell1985–1986
William H. May1988–1990
William L. Mathers1985–1987
William L. McQuillan1993–1998
William L. Tooley1989–1994
William Osgood Taylor1997–1998
William S. Cook1985–1985
William S. Edgerly1985–1986
William S. Pickerign1995–1997
William T. McConnell1989–1994
William W. Strausburg1992–1994
William Wardwell Treat1985–1985

Lineage

St. LouisRoberts1983–1984→1985–1998 · 5 months vacant before→Poole1998–2008

Who held each seat