Edward Gramlich

Who was Edward Gramlich?

Edward M. Gramlich was a professor of economics at the University of Michigan and a former member of the Board of Governors of the Federal Reserve.

Gramlich graduated from Williams College in 1961 and received a master's degree in 1962 and a Ph.D. in economics in 1965 from Yale University. He joined the Federal Reserve as a research economist from 1965-1970, and was a senior fellow at the Brookings Institution from 1973-1976. He then taught economics and public policy at the University of Michigan from 1976 to 1997, including a term as dean of the Gerald R. Ford School of Public Policy, and returned to Michigan as a professor in 2005.

He was appointed to the Federal Reserve System by President Bill Clinton in 1997 and resigned in August 2005. For much of his term, he was the Chair of the Board's Committee on Consumer and Community Affairs.

He was also the chairman of the Air Transportation Stabilization Board, which was created by Congress after the 9/11 attacks raised concerns about the survival of the U.S. airline industry. Gramlich had also chaired several other lesser-known stabilization boards created by Congress.