American economist and financial advisor (1926?2012)
Andrew Brimmer
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In office
June 1, 1995 ? September 1, 1998
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Preceded by
| Position established
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Succeeded by
| Alice Rivlin
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In office
March 9, 1966 ? August 31, 1974
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President
| Lyndon B. Johnson
Richard Nixon
Gerald Ford
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Preceded by
| C. Canby Balderston
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Succeeded by
| Philip Coldwell
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Born
| Andrew Felton Brimmer
(
1926-09-13
)
September 13, 1926
Newellton
,
Louisiana
, U.S.
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Died
| October 7, 2012
(2012-10-07)
(aged 86)
Washington, D.C.
, U.S.
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Political party
| Democratic
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Spouse
| Doris Scott
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Children
| Esther
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Education
| University of Washington, Seattle
(
BA
,
MA
)
Harvard University
(
PhD
)
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Andrew Felton Brimmer
(September 13, 1926 – October 7, 2012)
[1]
was an American economist and business leader who served as a member of the
Federal Reserve Board of Governors
from 1966 to 1974. A member of the
Democratic Party
, Brimmer was the first African American to sit on the Board.
[1]
Early life and education
[
edit
]
Brimmer was born in
Newellton
in
Tensas Parish
,
Louisiana
, to a family of
sharecroppers
.
[2]
He attended racially
segregated
schools and graduated from the former Tensas Rosenwald High School in
St. Joseph
, the seat of government of Tensas Parish. He was a classmate of Emmitt Douglas, later the long-term president of the Louisiana
NAACP
. Tensas Rosenwald closed in 1970, when the parish public schools were desegregated. The formerly all-white
Newellton High School
then function as a desegregated institution from 1970 until its closing because of low enrollment in 2006.
Brimmer served in the
United States Army
from 1945 to 1946. He attended the
University of Washington
in
Seattle
,
Washington
, where he obtained both his
bachelor's
and
master's
degrees. In 1951, Brimmer received a
Fulbright scholarship
to study in
India
and enrolled in 1952 in
Harvard University
in
Cambridge
,
Massachusetts
. In 1957, he received his
Ph.D.
from the
Harvard University
.
[2]
Career
[
edit
]
While he was still at Harvard, Brimmer worked at the
Federal Reserve Bank of New York
as an economist, and established the
central bank
of the
Sudan
. After graduation, Brimmer became assistant secretary of economic affairs in the
U.S. Department of Commerce
. In 1966, under appointment from
U.S. President
Lyndon B. Johnson
, Brimmer began an eight-year term on the board of governors of the Federal Reserve, becoming the first African American in that position. In 1974, Brimmer left the Federal Reserve and taught at Harvard University for two years. Thereafter, he formed his own consulting company, Brimmer & Company. He was a trustee of the Economists for Peace and Security.
Brimmer served on the
Tuskegee University
board of directors from 1965–2010, and as the board's chairman for the last 28 years on the board, making him the longest serving chairman in the school's history.
[3]
Awards and honors
[
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]
- Named government man of the year by the National Business League, 1963
- Arthur S. Flemming Award, 1966
- Russwurm Award, 1966
- Golden Plate Award of the
American Academy of Achievement
, 1967
[4]
- Elected to the
American Academy of Arts and Sciences
, 1970
[5]
- National Urban League Equal Opportunity Award, 1974
- Horatio Alger Award, 1974
- Elected to the
American Philosophical Society
, 1976.
[6]
- Fulbright 40th Anniversary Distinguished Lecturer, Ghana and Nigeria, 1986
- Samuel Z. Westerfield Award
, the highest award given by the
National Economic Association
, 1990, "in recognition of distinguished service, outstanding scholarship, and achievement of high standards of excellence"
- Black Enterprise A.G. Gaston Lifetime Achievement Award, 2007
In 2020, the
American Economic Association
announced the establishment of the "Andrew Brimmer Undergraduate Essay Prize," to be presented to an undergraduate student at a U.S. based institution of higher learning majoring in economics, political science, public policy, or related fields for the best essay on the “economic well-being of Black Americans.”
[7]
Personal life and death
[
edit
]
Brimmer married the former Doris Millicent Scott.
[2]
They had a daughter,
Esther Dianne Brimmer
.
[2]
Brimmer died on October 7, 2012, at
George Washington University Hospital
in Washington, D.C.
[2]
Bibliography
[
edit
]
- Andrew F. Brimmer (1962).
Life insurance companies in the capital market
. Bureau of Business and Economic Research, Graduate School of Business Administration, Michigan State University.
ISBN
9780598494658
.
- Brimmer Nomination: Hearing Before the Committee on Commerce, United States Senate, Eighty-ninth Congress, First Session, on Nomination of Andrew F. Brimmer, Assistant Secretary of Commerce, February 18, 1965
. U.S. Government Printing Office. 1965.
- Andrew F. Brimmer; Henry S. Terrell (December 29, 1969).
"The Economic Potential of Black Capitalism"
. Statements and Speeches of Andrew F. Brimmer. Fraser, St. Louis Fed.
- Andrew F. Brimmer (1982).
Monetary Policy and the International Diffusion of Interest Rates
. International Banking Center & Department of Economics, Florida International University.
References
[
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]
External links
[
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]
Archives and records
[
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]
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International
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National
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Other
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