The President announced today he will nominate Nancy Hays Teeters, of Indiana, to be a member of the Board of Governors of the Federal Reserve System for the remainder of the term expiring January 31, 1984. She will replace Arthur Burns, who has resigned.
Ms. Teeters is currently chief economist of the House Budget Committee, a position she has held since 1975. From 1973 to 1975, she was a senior specialist of the Congressional Research Service, Library of Congress. From 1970 to 1973, she was a senior fellow at the Brookings Institution.
She served as a fiscal economist in the Office of Management and Budget from 1966 to 1970, and from 1957 to 1966, she was an economist for the Federal Reserve Board. She also served, in 1962 and 1963, as an economist for the Council of Economic Advisers.
Ms. Teeters was a teaching fellow at the University of Michigan from 1956 to 1957, and from 1954 to 1955. From 1955 to 1956, she was an instructor at the University of Maryland overseas division, in Stuttgart, West Germany.
She was born July 29, 1930, and received an A.B. from Oberlin College in 1952. She received an M.A. from the University of Michigan in 1957. She is a member of the American Economic Association and is a director of the American Finance Association. She is director of the National Economist Club and a member of the Cleveland Park Club.