LAURENCE MEYER

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Economy

Biography

Laurence H. Meyer served as a member of the Board of Governors of the Federal Reserve System from June 20, 1996 until January 31, 2002. He was widely recognized as an influential member of the Federal Open Market Committee and built a reputation for independent thinking and straight talk about monetary policy.

Laurence Meyer was appointed to the Federal Reserve Board by President Clinton in 1996, and his term coincided with some of the most momentous economic events of the second half of the 20th century: the collapse of the Asian banking system, the implosion of the Russian economy and the birth and death of the "new economy," the collapse of long-term capital management, the bursting American stock bubble, and the September 11, 2001 terrorist attacks. Laurence Meyer was at the center of global financial policy making and witness to the inner workings of arguably the most powerful government agency in the world.

Fed Chairman Alan Greenspan said, "Larry Meyer has made an important contribution to the Board's monetary policy. His thoughtful insights into technical issues and his technical expertise have materially enhanced the deliberations of the Board and the Federal Open Market Committee. His influence will carry on beyond his tenure as a Board member."

Chair of the Board's Committee on Supervisory and Regulatory Affairs, Laurence Meyer oversaw the Board's regulatory implementation of Gramm-Leach-Bliley Act and its participation in negotiations toward a new international capital accord. He also represented the Federal Reserve Board in several international forums, including the Financial Stability Forum, the Economic Policy Committee of the Organisation for Economic Co-operation and Development (OECD), and Asia-Pacific Economic Cooperation (APEC). He was responsible for monitoring developments in the Asia Pacific region and participated in United States bilateral dialogues with the central banks and finance ministries of Japan, China, and India.

Before becoming a member of the Federal Board, Meyer was president of Laurence H. Meyer and Associates, a St. Louis-based economic consulting firm specializing in macroeconomic forecasting and policy analysis, and a professor of economics and a former chairman of the economics department at Washington University.

A senior advisor to the G-7 Group, and a Fellow of the National Association of Business Economists, Laurence Meyer also serves on the Board of the National Bureau of Economic Research. The 2002 recipient of the Butler Award from the New York Association of Business Economists for excellence in business economics, he recently joined the Center for Strategic and International Studies as a distinguished visiting scholar.

Laurence Meyer provides audiences with an insider's view of monetary policy and life at the Fed and leaves them both entertained and better prepared to appreciate the forces that drive the economy and the process and principles that link economic developments to monetary policy decisions. His newest book is A Term at The Fed: An Insider's View. Laurence Meyer is the first former Fed member to pen a book about his experiences and has provided Fed watchers with an extraordinary look into a fascinating period of economic history.

Laurence Meyer received a B.A. magna cum laude from Yale University in 1965 and a Ph.D. from Massachusetts Institute of Technology in 1970.

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  • A Term at the Fed: An Insider's View

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