Federal Reserve System Nomination of Lyle E. Gramley To Be a Member of the Board of Governors.

The President today announced his intention to nominate Lyle E. Gramley to be a member of the Board of Governors of the Federal Reserve System for a 14-year term. He would replace Philip Coldwell, whose term has expired.

Gramley has been a member of the President's Council of Economic Advisers since 1977.

He was born January 14, 1927, in Aurora, Ill. He received a B.A. from Beloit College in 1951 and an M.A. (1952) and Ph.D. (1956) from Indiana University.

From 1955 to 1962, Gramley was a financial economist with 'the Federal Reserve Bank of Kansas City. From 1962 to 1964, he was an associate professor of economics at the University of Maryland. From 1964 to 1965, he was a senior economist with the Board of Governors of the Federal Reserve System.

From 1965 to 1977, Gramley was with the Division of Research and Statistics of the Federal Reserve Board, beginning as an associate advisor and finally serving as director of the division.

Gramley is the author of several publications on economics. He is a member of the American Economic Association and the National Economists Club.