Resignation of Governor Edward M. Gramlich
Governor Edward M. Gramlich submitted his resignation on May 18, 2005, as a member of the Board of Governors of the Federal Reserve System, effective August 31, 2005. Governor Gramlich, who has been a member of the Board since November 5, 1997, submitted his letter of resignation to President Bush. In view of his impending departure and in keeping with Federal Open Market Committee practice, he did not attend the August 9, 2005, meeting of the FOMC.
"Ned has contributed powerfully to the work of the Board and of the FOMC for nearly eight years," said Federal Reserve Board Chairman Alan Greenspan. "Our deliberations have been enriched by his keen insights, his good humor, and his lively mind."
Gramlich resigned to pursue several teaching and research interests. He will become the Richard A. Musgrave collegiate professor in the Gerald R. Ford School of Public Policy at the University of Michigan, teaching in that program and in the new Michigan in Washington Program. He will also hold a part-time appointment as senior fellow at the Urban Institute.
Gramlich, 65, was first appointed to the Federal Reserve Board by President Clinton to a term that expires on January 31, 2008. …