Black Fact = 1966 (March 9) – Andrew F. Brimmer became the first Black governor of the Federal Reserve Board and was appointed by President Lyndon B. Johnson eleven days earlier.
Upon leaving the Federal Reserve Board in August 1974, I taught courses on capital markets and finance at the Harvard Business School for two years. I established my economic and financial consulting firm (Brimmer & Co. Inc.) in July 1976, and I continue to operate it. I also serve on several corporate boards–including Bank of America and DuPont. From June 1978 through November 1994, I was a public governor of the Commodity Exchange, Inc. In that role, I chaired the Special Silver Committee which resolved the “Hunt Silver Crises” in 1979-80. In 1991-93, I served as co-chairman of the National Commission on Financial Institution Reform, Recovery & Enforcement. Our report, entitled “Origins and Cases of the S&L Debacle: A Blueprint for Reform,” was published in July 1993. On June 1, 1995, President Clinton appointed me chairman of the District of Columbia Financial Responsibility and Management Assistance Authority. This “financial control board” was appointed to oversee Washington, D.C.’s fiscal affairs and to help restore the city to financial health. ‘ – Andrew F. Brimmer from: “Woodrow – The Federal Reserve Bank of Minneapolis.” 12/95.
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