Raymond Joseph Saulnier (September 20, 1908 – April 30, 2009) was an American economist who served as the chairman of the Council of Economic Advisers from 1956 to 1961 under President

Dwight D. Eisenhower Dwight David "Ike" Eisenhower (born David Dwight Eisenhower; ; October 14, 1890 – March 28, 1969) was an American military officer and statesman who served as the 34th president of the United States from 1953 to 1961. During World War II, ...

Education

Saulnier graduated Middlebury College, 1929 where he was President of the Class. He studied at Braker Teaching Fellowship at Tufts College (later

Tufts University Tufts University is a private research university on the border of Medford and Somerville, Massachusetts. It was founded in 1852 as Tufts College by Christian universalists who sought to provide a nonsectarian institution of higher learning. ...

) where he earned an MA in Economics in 1931. He earned his Ph.D. from

Columbia University Columbia University (also known as Columbia, and officially as Columbia University in the City of New York) is a private research university in New York City. Established in 1754 as King's College on the grounds of Trinity Church in Manhatt ...

in 1938.

Career

Saulnier was Director of the Financial Research Program at the

National Bureau of Economic Research The National Bureau of Economic Research (NBER) is an American private nonprofit research organization "committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic c ...

from 1946-1961. He initiated the use of

economic indicator An economic indicator is a statistic about an economic activity. Economic indicators allow analysis of economic performance and predictions of future performance. One application of economic indicators is the study of business cycles. Economic ...

s developed at the National Bureau within the White House and government in general. In 1959 while at the CEA, he provided the Economic Brief (with CEA staff member Irving Siegel and the Justice Department) that went to the Supreme CourtOctober Term 1959, ''United States of America, Plaintiff, versus United Steel Workers of America'', Transcript of Record, pp. 193–200 making the economic case for terminating, by Taft-Hartley injunction, the industry-wide steel strike that was having a significant negative effect on the US economy. He was professor at

/Barnard from 1944 to 1973. Saulnier was preceded by Arthur Burns as Chairman of the CEA (also of Columbia University) during Eisenhower's first term and Leon Keyserling, Chairman during most of President Truman's term. Through his writings and personal letters to economists such as Herb Stein (Chairman of the CEA 1972-74) he argued for an independent, non-political CEA to advise the President and act as a resource outside of the politics of the Treasury Department.

Personal

He married Estelle Sydney March 17, 1934. He is the father of Mark Saulnier (December 31, 1934) and Alice Saulnier (June 8, 1938). He was a board member of several industrial and financial companies including

New York Bank for Savings The New York Savings Bank is a historic bank building in Chelsea, Manhattan, New York City. It was built in 1896 by Robert Henderson Robertson with George Provot, and was added to the National Register of Historic Places on January 7, 2000. The ...

American Stock Exchange NYSE American, formerly known as the American Stock Exchange (AMEX), and more recently as NYSE MKT, is an American stock exchange situated in New York City. AMEX was previously a mutual organization, owned by its members. Until 1953, it was know ...

Missouri Pacific Railroad The Missouri Pacific Railroad , commonly abbreviated as MoPac, was one of the first railroads in the United States west of the Mississippi River. MoPac was a Class I railroad growing from dozens of predecessors and mergers. In 1967, the railroad ...

, American Potash and Chemical, Howmet Corporation, and

Houdaille Industries Houdaille Industries was a diversified manufacturing company which produced automotive products, industrial products, machine tools, construction materials and contracting. The company had its beginnings in Buffalo, New York, in 1919, where the ...

. He was a consultant to

Marine Midland Bank Marine Midland Bank was an American bank formerly headquartered in Buffalo, New York, with several hundred branches throughout the state of New York. In 1998, branches extended to Pennsylvania. It was acquired by HSBC in 1980, and changed its na ...

of New York and Harold Geneen, Chairman of International Telephone & Telegraph (ITT). He was a member of the Board of Trustees (Finance Committee), Middlebury College 1956-1973, as well as a member of the Century Club. Until his death, he resided in

Chestertown, Maryland Chestertown is a town in Kent County, Maryland, United States. The population was 5,252 as of the 2010 census. It is the county seat of Kent County. History Founded in 1706, Chestertown rose in stature when it was named one of the English col ...

Bibliography

Books *''Contemporary Monetary Theory'',Columbia University, 1938. * *''A Selection of Papers: Personal, Political, and Professional'', privately published 2007

Articles *"The Strategy of Economic Policy", Fordham University Press, 1962. *"Three Budget Concepts: Which is Best?"'in ''Financial Policies in Transition'', The M.L. Seidman Town Hall Lectures at Memphis State University 1968. *"Do Deficits Matter?" in ''The Conservative Papers: 1964''. *"A Monetary and Fiscal Strategy for the 1970s"' in ''Republican Papers, 1968''. *Primary responsibility for the Economic Reports to the President 1957-1961, sent to Congress in January. *'An Economist's-Eye View of the World' from ''Fortune Magazine'', May 1962. *"Notes on the Economy", one- or two-page summaries of the economy and the outlook for financial markets, distributed to friends and colleagues several times (or more) during the year until November 2002.

References

External links