Adolph Miller | |
---|---|
Member of the Federal Reserve Board | |
In office August 10, 1914 –February 3, 1936 | |
President | Woodrow Wilson Warren G. Harding Calvin Coolidge Herbert Hoover Franklin D. Roosevelt |
Preceded by | Position established |
Succeeded by | John McKee |
Personal details | |
Born | Adolph Caspar Miller January 6,1866 San Francisco,California,U.S. |
Died | February 11,1953 87) Washington,D.C.,U.S. | (aged
Political party | Independent |
Education | University of California,Berkeley (BA) Harvard University (MA) |
Adolph Caspar Miller (January 7,1866 - February 11,1953) was an American economist who served as a member of the Federal Reserve Board from 1914 to 1936. Miller was a notable benefactor of the University of California,Berkeley,where he was a graduate and professor of economics.
Miller was born in San Francisco on January 7,1866. After receiving his degree from the University of California,he studied abroad in Paris and Munich. [1] Miller served as an instructor at Harvard University and then spent one year each as an assistant professor at his alma mater and Cornell University before being hired as a full professor of finance at the University of Chicago. While in Chicago,in 1895,Miller married Mary Sprague,daughter of a prominent Chicago businessman.[ citation needed ]
In 1902,Benjamin Wheeler,President of the University of California,persuaded Miller to return to Berkeley as Flood Professor of Finance and take charge of the College of Commerce,the predecessor of today's Haas School of Business. Miller remained there until 1913. In that year,Miller's classmate and friend,Franklin Knight Lane,was appointed Secretary of the Interior by Woodrow Wilson,and Lane persuaded Miller to come to Washington to serve as Assistant Secretary. [1] In May 1913,Miller was also appointed as Director of the Bureau of National Parks. [2]
In 1914,Miller was appointed one of the original members of the Federal Reserve Board,which had been enacted late the previous year. [3] The terms of the initial members were staggered,and Miller received the longest initial term,ten years. [3] Miller was the sole economist on the Board during World War I,and he supported policies which would reduce spending by the public,principally through higher taxes. [4]
He served 22 years in that capacity before retiring in 1936. He remained a significant benefactor to the University of California,and its Miller Institute for Basic Research in Science was endowed with money left to the university and named for him. [1]
His house in the Kalorama neighborhood of Washington DC,designed in 1924 by Baltimore architect Hall Pleasants Pennington,still stands at 2230 S Street NW. [5]
The Walter A. Haas School of Business is the business school of the University of California,Berkeley,a public research university in Berkeley,California. It was the first business school at a public university in the United States.
George William Miller was an American businessman and investment banker who served as the 65th United States secretary of the treasury from 1979 to 1981. A member of the Democratic Party,he also served as the 11th chairman of the Federal Reserve from 1978 to 1979. Miller was the first person to hold both of those posts.
Marriner Stoddard Eccles was an American economist and banker who served as the 7th chairman of the Federal Reserve from 1934 to 1948. After his term as chairman,Eccles continued to serve as a member of the Federal Reserve Board of Governors until 1951.
Franklin Knight Lane was an American progressive politician from California. A member of the Democratic Party,he served as United States Secretary of the Interior from 1913 to 1920. He also served as a commissioner of the Interstate Commerce Commission,and was the Democratic nominee for Governor of California in 1902,losing a narrow race in what was then a heavily Republican state.
William Proctor Gould Harding was an American banker who served as the second chairman of the Federal Reserve from 1916 to 1922. Prior to his term as chairman,Harding served as one of the original members of the Federal Reserve Board,taking office in 1914. During his tenure as chairman,he concurrently served as the managing director of the War Finance Corporation from 1918 to 1919. Harding was responsible for a severe wave of inflation during the First World War. After leaving the Fed,Harding traveled to Cuba and advised the Cuban government on the reorganization of its financial and accounting system.
Charles Sumner Hamlin was an American lawyer and politician who served as the first chairman of the Federal Reserve from 1914 to 1916. He previously served as the United States assistant secretary of the treasury from 1893 to 1897,and again from 1913 until 1914 when President Woodrow Wilson nominated him as one of the original members of the Federal Reserve Board. After his term as chairman,Hamlin continued to serve on the Board through 1936.
Robert Justin Miller was a United States circuit judge of the United States Court of Appeals for the District of Columbia.
Frederic Stanley "Rick" Mishkin is an American economist and Alfred Lerner professor of Banking and Financial Institutions at the Graduate School of Business,Columbia University. He was a member of the Federal Reserve Board of Governors from 2006 to 2008.
Randall S. Kroszner is an American economist who served as a member of the Federal Reserve Board of Governors from 2006 to 2009. Kroszner chaired Fed's board Committee on Supervision and Regulation of Banking Institutions during the global financial crisis. He has been professor of economics at the University of Chicago since the 1990s,with various leaves,and named Norman R. Bobins Professor of Economics at the University of Chicago Booth School of Business in 2009,and serves as a senior advisor for Patomak Partners.
Frederic Adrian Delano II was an American railroad president who served as the first vice chairman of the Federal Reserve from 1914 to 1916. After his term as vice chairman,Delano continued to serve as a member of the Federal Reserve Board until 1918.
Carl Eugene Walsh,is an American economist. He has been an economics professor at the University of California,Santa Cruz (UCSC) since 1987,and retired in 2020 as Distinguished Professor of Economics. He twice served as chair of the Economics Department at the university as well as Vice Provost for Silicon Valley Initiatives (2005-2007) and Associate Vice Chancellor for Planning and Programs (1995-1995) at UCSC. He has also been a Visiting Scholar at the Federal Reserve Banks of Kansas City (1982-1983),Philadelphia (1984-1985) and San Francisco (1987-2000).
Emmett John Rice was an American economist,academic,bank executive,and member of the Federal Reserve Board of Governors. He served with the Tuskegee Airmen during World War II,taught at Cornell University during the 1950s,and was a noted expert in the monetary systems of developing countries. Susan Rice,former United States Ambassador to the United Nations and National Security Advisor to Barack Obama,is his daughter.
Sherman Joseph Maisel was an American economist who served as a member of the Federal Reserve Board of Governors from 1965 to 1972. Research on mortgage policy conducted by Maisel led to the expansion of the roles played by Fannie Mae and Ginnie Mae in encouraging the broader availability of loans to homeowners.
John Carroll Williams is the president and chief executive officer of the Federal Reserve Bank of New York,having also served as president of Federal Reserve Bank of San Francisco from 2011 to 2018. He is currently serving as vice chairman of the Federal Open Market Committee.
Clement Lowell Harriss (1912–2009) was an American economist,a past president of the National Tax Association and a former executive director of the Academy of Political Science. He was one of the United States' leading tax experts and the author of highly regarded economics textbooks and other books on economic subjects. He was professor emeritus of economics at Columbia University and taught there for 43 years. He was the professor for whom the C. Lowell Harriss Professorship of Economics and International Affairs at the School of International and Public Affairs at Columbia was named.
James A. Wilcox is a former James J. and Marianne B. Lowery Chair and professor of economics at Haas School of Business,University of California,Berkeley.
Lisa DeNell Cook is an American economist who has served as a member of the Federal Reserve Board of Governors since May 23,2022. She is the first African American woman and first woman of color to sit on the Board. Before her appointment to the Federal Reserve,she was elected to the board of directors of the Federal Reserve Bank of Chicago.
Philip Nathan Jefferson is an American economist who has been serving as 23rd Vice Chair of the Federal Reserve since September 2023. He has been a member of the Federal Reserve Board of Governors since 2022. He was nominated for the position by President Joe Biden in January 2022,and was confirmed by the Senate in May 2022. Upon taking office,he became the fourth Black man to serve on the board.
Benjamin E. Hermalin is an American economist and university administrator. He holds professorships in the department of economics at the University of California,Berkeley and in Berkeley's Haas School of Business,where he is the Thomas &Alison Schneider Distinguished Professor of Finance. Since 2022,he has also been Berkeley's executive vice chancellor and provost.
Walter E. Hoadley was an American business economist,statistician,and Federal Reserve Bank chair. He served as president of the American Statistical Association and the American Finance Association.