WASHINGTON, D.C., May 18, 2005—Edward Gramlich, a member of the Federal Reserve System's Board of Governors since 1997, will become the Urban Institute's first Richard B. Fisher Senior Fellow in September. A distinguished educator, researcher, and federal official, Gramlich submitted his resignation to President Bush today, effective August 31.
Long associated with the University of Michigan before President Clinton appointed him to the Federal Reserve, Gramlich will later this year also become the Richard A. Musgrave Collegiate Professor in the university's Gerald R. Ford School of Public Policy. He was a professor of economics and public policy at the university from 1976 to 1997, dean of the School of Public Policy from 1995 to 1997, chair of the economics department (1983-86 and 1989-90), and director of the Institute of Public Policy Studies (1979-83 and 1991-95).
Gramlich will focus on community redevelopment, affordable housing, and entitlement issues at the Urban Institute. His new post is named for Richard Fisher, the former Morgan Stanley chairman and philanthropist, who served as the Urban Institute's board chairman from 1995 to 2003 and as a trustee from 1987 to 2004. Fisher died in December 2004.
"Whether in a classroom, boardroom, or hearing room, Ned Gramlich brings a scholar's wisdom, a researcher's rigor, and a true public servant's dedication to the economic and social perplexities of our times," said Robert Reischauer, president of the Urban Institute. "His presence at the Institute will advance the ideals championed by Dick Fisher."
While at the Federal Reserve, Gramlich chaired its Committee on Consumer and Community Affairs, the Airline Transportation Stabilization Board, and the Neighborhood Reinvestment Corporation. Earlier, he served as chair of the Quadrennial Advisory Council on Social Security (1994-96), deputy director and acting director of the Congressional Budget Office (1986-87), director of the policy research division at the Office of Economic Opportunity (1971-73), senior fellow at the Brookings Institution (1973-76), and staff member of the research division of the Federal Reserve Board (1965-70).
Gramlich, who holds a Ph.D. in economics from Yale University, was staff director in 1992 for Major League Baseball's Economic Study Commission. The author of books and articles on cost-benefit analysis, macroeconomics, budget policy, income redistribution, fiscal federalism, Social Security, and the economics of professional sports, Gramlich is coauthor of The Government We Deserve (Urban Institute Press, 1998).
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