Members of the Federal Reserve
...ors of the Federal Reserve System to a full term ending January 31, 2014. He originally took office on November 5, 1997, as a Member of the Board to fill an un-expired term ending January 31, 2000. He has 3-years and 10-months left in his term. He received a B.A. in economics in 1973, a J.D. in law in 1979, and a Ph.D. in economics in 1981, all from Harvard University. Before becoming a member of the Board, Dr. Ferguson was a Partner at McKinsey & Company, Inc. He managed a variety of studies for financial institutions from 1984 to 1997 in New York City. Dr. Ferguson also served as Director of Research and Information Systems, in which he looked over a staff of 400 research professionals and managed the firm's investments in knowledge management technologies. Dr. Ferguson was an attorney at the New York City office of Davis Polk & Wardwell, where he worked with commercial banks, investment banks, and Fortune 500 corporations on syndicated loans, public offerings, mergers and acquisitions, and new product development from 1981 to 1984. Edward M. Gramlich was born on June 18, 1939, in Rochester, New York. He is a 65-year-old Caucasian male who took office on November 5, 1997, as a member of the Board of Governors of the Federal Reserve System to fill an un-expired term ending January 31, 2008. He has 4-years and 1-month left in his term. He received a B.A. from Williams College in 1961, and received his graduate study at Yale University. There he received an M.A. in economics in 1962 and a Ph.D. in economics in 1965. Before becoming a member of the Board, Dr. Gramlich served as Dean of the School of Public Policy at the University of Michigan from 1995-1997. He also served as a Professor of Economics and Public Policy at the University of Michigan from 1976-1997, Chair of the Economics Department (1983-1986 and 1989-1990), and Director of the Institute of Public Policy Studies (1979-1983 and 1991-1995). Susan Schmidt Bies was born on May 5, 1947, in Buffalo, New York. She is a 57-year-old Caucasian female who took office on December 7, 2001, to a full term as a member of the Board of Governors of the Federal Reserve System ending January 31, 2012. She has 8-years and 1-month left in her term. She received a B.S. in education from the State College of New York at Buffalo in 1967 and an M.A. and a Ph.D. both in economics, from Northwestern University. Before becoming a member of the Board, Dr. Bies was Executive Vice President for Risk Management and Auditor at First Tennessee National Corporation in Memphis, Tennessee from 1995-2001. She served in various other positions at First Tennessee, including Executive Vice President and Chief Financial Officer, Senior Vice President and Chief Financial Officer, Senior Vice President and Treasurer, Vice President for Corporate Development, Tactical Planning Manager, and Economist from 1979 to 1995. Dr. Bies was Associate Professor of Economics at Rhodes College in Memphis, Tennessee from 1977-1979. She was also an Assistant Professor of Economics at Wayne State University in Detroit, Michigan from 1972-1977 and Chief Regional and Banking Structure Economist at the Federal Reserve Bank of St. Louis from1970-1972. Mark W. Olson was born on March 17, 1943, in Fergus Falls, Minnesota. He is a 61-year-old Caucasian male who took office on December 7, 2001, to fill an un-expired term as a member of the Board of Governors of the Federal Reserve System ending January 31, 2010. He has 6-years and 1-month left in his term. He received a B.A. in economics in 1965 from Saint Olaf College were he was named Mr. Olson a Distinguished Alumni. Before becoming a member of the Board, Mr. Olson served as Staff Director of the Securities Subcommittee of the Banking, Housing, and Urban Affairs Committee, He was U.S. Senate from 2000-2001. Mr. Olson served as a partner with Ernst & Young LLP and its predecessor, Arthur Young & Company from 1988 to 1999. At Ernst and Young, he was National Director of the firm's Regulatory Consulting Practice for the financial services industry. Mr. Olson began his banking career with First Bank System in 1966 that is now known as U.S. Bancorp were he was named an officer in 1969. Mr. Olson was President and CEO of Security State Bank in Fergus Falls, Minnesota from 1976 to 1988. Ben S. Bernanke was born on December 13, 1953, in Augusta, Georgia. He is a 51-year-old Caucasian male who was sworn-in on November 14, 2003, as a member of the Board of Governors of the Federal Reserve System for a full term that begun February 1, 2004 and expires January 31, 2018. He originally took of...