Regional President Speech

INTRODUCTION OF GOVERNOR WAYNE ANGELL COLLEGE OF COMMERCE, DEPAUL UNIVERSITY 75TH ANNIVERSARY LECTURE SERIES APRIL 18, 1988 I. INTRODUCTION A. GREAT PLEASURE 1. PARTICIPANT IN LECTURE SERIES A. COMMEMORATING 75TH ANN I VERSARY FOUND I NG OF COLLEGE OF COMMERCE OF DEPAUL UNIVERSITY B. 75TH ANNIVERSARY OF SIGNING OF ACT LED TO FOUNDING OF FEDERAL RESERVE SYSTEM 2. DESPITE TRYING TIMES AND TURBULENT EVENTS A. BOTH HAVE STOOD TEST OF TIME VERY WELL INDEED II. PARTICULAR PLEASURE -- INTRODUCE GOVERNOR WAYNE ANGELL - THIS EVENING 'S GUEST LECTURER A. UNIQUELY QUALIFIED TO BE PARTICIPANT IN SERIES 1. PUT THE FUTURE OF THE FEDERAL RESERVE SYSTEM IN AN INTERESTING PERSPECTIVE B. GOVERNOR ANGELL SWORN IN AS A MEMBER OF THE BOARD OF GOVERNORS ON FEBRUARY 7, 1986 TO FILL AN UNEXPIRED TERM ENDING FEBRUARY 1994. Digitized for FRASER https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis WAYNE ANGELL INTRODUCTION DEPAUL UNIVERSITY - 75TH APRIL 18, 1988 - PAGE 2 C. CAME TO THIS IMPORTANT POSITION WITH AN EXCEPTIONALLY BROAD BACKGROUND OF DIVERSIFIED EXPERIENCE 1. HIGHLY QUALIFIED FOR THE RESPONSIBILITIES HE FACES D. BORN, RAISED IN KANSAS 1. BACHELOR'S DEGREE FROM OTTAWA UNIVERSITY IN OTTAWA, KANSAS 2. MASTERS DEGREE AND PH.D. IN ECONOMICS -- UNIVERSITY OF KANSAS -- WHERE HE WAS A MEMBER OF PHI BETA KAPPA E. BEGAN HIS ACADEMIC CAREER IN 1956 -- OTTAWA UNIVERSITY -- PROFESSOR OF ECONOMICS 1. TAUGHT THERE FOR 30 YEARS 2. 3 YEARS AS DEAN OF THE UNIVERSITY F. GOVERNOR ANGELL HAS ALSO HAD EXTENSIVE BANKING EXPERIENCE 1. SERVED FOR 11 YEARS AS CHAIRMAN OF THE BOARD OF THE FIRST STATE BANK OF PLEASANTON, KANSAS 2. SERVED FOR 14 YEARS AS PRESIDENT OF HUME BANCSHARES IN MISSOURI Digitized for FRASER https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis WAYNE ANGELL INTRODUCTION DEPAUL UNIVERSITY - 75TH APRIL 18, 1988 - PAGE 3 3. WHILE HE WAS AN ACTIVE BANKER, HE ALSO SERVED AS A MEMBER OF THE BOARD OF DIRECTORS OF THE FEDERAL RESERVE BANK OF KANSAS CITY G. HE ALSO HAS SIGNIFICANT EXPERTISE IN AGRICULTURE, GAINED FROM AN EXPANDING INVOLVEMENT IN FARMING THROUGHOUT HIS LIFETIME 1. BEGINNING AT AGE 14 WITH HIS OWN 12-ACRE WHEAT FIELD 2. STEADILY INCREASED TO HIS CURRENT PARTNERSHIP IN A 3,300 ACRE FARM IN KANSAS H. HAS ALSO BEEN ACTIVE IN POLITICS 1. STATE REPRESENTATIVE IN KANSAS HOUSE OF REPRESENTATIVES FROM 1961-1967 2. VICE CHAIRMAN OF THE KANSAS STATE LEGISLATIVE CAMPAIGN COMMITTEE IN 1964 III. SINCE JOINING THE BOARD OF GOVERNORS A. HAS ASSUMED AN INCREASINGLY IMPORTANT ROLE IN THE AFFAIRS OF THE SYSTEM Digitized for FRASER https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis WAYNE ANGELL INTRODUCTION DEPAUL UNIVERSITY - 75TH APRIL 18, 1988 - PAGE 4 1. CHAIRMAN -- BANK ACTIVITIES COMMITTEE A. RESPONSIBLE FOR THE ACTIVITIES OF THE 12 RESERVE BANKS I. 23 THOUSAND EMPLOYEES II. ANNUAL OPERATING BUDGETS OF OVER $1.2 BILLION B. IN MONETARY POLICY AREA HAS BEEN ON THE LEADING EDGE OF THE INNOVATIVE THINKING SO IMPORTANT TO THE DELIBERATIONS OF THE FEDERAL OPEN MARKET COMMITTEE 1. FOR EXAMPLE, HE IS AN ADVOCATE OF USING COMMODITY PRICES AS AN IMPORTANT DETERMINANT IN THE DEVELOPMENT OF MONETARY POLICY 2. GROWING ACCEPTANCE OF MANY OF HIS INNOVATIVE IDEAS 3. DESCRIBED IN A RECENT ARTICLE ON THE FEDERAL RESERVE AS "A GENUINE MONETARY POLICY AFICIONADO AND THE BOARD'S MOST PASSIONATE THEORIST ON THE SUBJECT" IV. VERY SPECIAL HONOR TO HAVE HIM WITH US TONIGHT A. DELIGHTED TO WELCOME AND INTRODUCE GOVERNOR WAYNE ANGELL TO YOU Digitized for FRASER https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis

Silas Keehn (1988, April 17). Regional President Speech. Speeches, Federal Reserve. https://whenthefedspeaks.com/doc/regional_speeche_19880418_silas_keehn

@misc{wtfs_regional_speeche_19880418_silas_keehn,
  author = {Silas Keehn},
  title = {Regional President Speech},
  year = {1988},
  month = {Apr},
  howpublished = {Speeches, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/regional_speeche_19880418_silas_keehn},
  note = {Retrieved via When the Fed Speaks corpus}
}