On this day in Black History: Andrew Brimmer became the first Black to hold a governorship on the US Federal Reserve Bank in 1966. Before assuming his post, Brimmer served as an economist at the Federal Reserve Bank of New York in 1955 and in 1956. During that period he was dispatched to Sudan to help that newly independent nation establish a central bank. A teaching position followed in 1958 at Michigan State University and at the University of Pennsylvania’s Wharton School of Business in 1961. In 1963, President John F. Kennedy appointed Brimmer as deputy assistant secretary of commerce for economic policy and then assistant secretary for economic affairs. He was appointed to the Board of Governors for the Federal Reserve Bank by President Lyndon B. Johnson. He served until 1974 when he took a teaching position at the Harvard Graduate School of Business. Also, world renowned singers, Leontyne Price (1927) and Roberta Flack (1940) were born today.
Posted on: Mon, 10 Feb 2014 12:53:12 +0000
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