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Andrew Brimmer was an American economist who became the first Black governor of the Federal Reserve Board, serving from 1966 to 1974.
What was Andrew Brimmerâs role in the Federal Reserve?
He was a member of the Board of Governors of the Federal Reserve System from 1966 to 1974, helping shape U.S. monetary policy during a period of economic change.
What educational background did Andrew Brimmer have?
Andrew Brimmer (born September 13, 1926, Newellton, Louisianaâdied October 7, 2012, Washington, D.C.) was an American economist who became the first African American governor of the Federal Reserve Board (1966â74). He was a renowned expert on monetary policy, international finance, and capital markets.
Brimmer was the son of sharecroppers and attended local segregated schools. Upon his high-school graduation he moved to Bremerton, Washington, with an older sister and worked in a navy yard as an electricianâs helper. Brimmer was drafted into the army in 1945. He finished his military service in November 1946 and then enrolled in the University of Washington, where he received a B.A. (1950) and an M.A. (1951) in economics. He then went to study in India for a year under a Fulbright scholarship. While a doctoral student at Harvard University, he worked as an economist for the Federal Reserve Bank of New York and traveled to the Sudan in Africa to establish a central bank. He received a Ph.D. in economics in 1957.
During the administrations of Presidents John F. Kennedy (1961â63) and Lyndon B. Johnson (1963â69), Brimmer served as assistant secretary of economic affairs in the Department of Commerce, a position he held until his appointment to the Board of Governors of the Federal Reserve System on February 26, 1966. Brimmer remained on the board until 1974, when he left to take a teaching post at Harvard. Two years later he established the consulting firm Brimmer & Company. He also served on the board of directors of Tuskegee University from 1965 until 2010.
