Nancy Hays Teeters (July 29, 1930 – November 17, 2014) was an American economist and corporate executive who served as a member of the Federal Reserve Board of Governors from 1978 to 1984. A member of the Democratic Party, Teeters was the first woman to sit on the Board. She was nominated by President Jimmy Carter to fill out the remainder of the term of Arthur F. Burns, a former chairman of the Fed. Teeters was known for her public statements in which she dissented from the mainstream opinion of the Board and Chairman Paul Volcker.

Early life and education

Teeters was the youngest of three children born to Edgar Hayes, a box salesman, and Mabel, a homemaker. She received a bachelor's degree from

Oberlin College Oberlin College is a Private university, private Liberal arts colleges in the United States, liberal arts college and conservatory of music in Oberlin, Ohio. It is the oldest Mixed-sex education, coeducational liberal arts college in the United S ...

in 1952 and a master's degree from the University of Michigan in 1954, both in economics.

Career

In 1957, Teeters joined the Federal Reserve as a staff economist in the Division of Research and Statistics. From 1962 to 1963, she worked as an economist on the staff of the

Council of Economic Advisers The Council of Economic Advisers (CEA) is a United States agency within the Executive Office of the President established in 1946, which advises the President of the United States on economic policy. The CEA provides much of the empirical resea ...

, then led by Chair Walter Heller. She returned to the Fed for three years and also spent time with the Bureau of the Budget (predecessor of the Office of Management and Budget, the Brookings Institution, and the Congressional Research Service prior to her appointment to the Board of Governors of the Federal Reserve. After leaving the Fed, she joined IBM as director of economics, and was elected an IBM vice president and chief economist in 1986; the second woman to hold the post. Teeters served in that capacity until her retirement in 1990.Arnold, Lawrence
"Nancy Teeters, First Woman on Federal Reserve Board, Dies at 84"
''Bloomberg Business'' November 23, 2014 She died on November 17, 2014 at the age of 84.

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* * * {{DEFAULTSORT:Teeters, Nancy 1930 births 2014 deaths 20th-century American businesspeople 20th-century American businesswomen 20th-century American economists American computer businesspeople American women economists Businesspeople from Indiana Carter administration personnel Economists from Indiana Federal Reserve economists Federal Reserve System governors IBM employees IBM Women Oberlin College alumni People from Marion, Indiana Reagan administration personnel University of Michigan alumni