Emmett J. Rice

Emmett John Rice ( born December 21, 1919 in Florence, South Carolina, † March 10, 2011 in Camas, Washington) was an American governor of the Federal Reserve System, Manager at the World Bank and the Economic and development consultant who of the construction banking system in Nigeria in the 1960s helped.

Life

High school teachers and staff of the World Bank

Emmett J. Rice was born the youngest of four children of a Methodist preacher, who, however, died young, leaving his mother worked as a school teacher. When he was 13 years old, his mother screwed up with the children in Harlem.

After school he studied economics at the City College of New York and completed his studies with a Bachelor of Arts (BA Economics) and a Master of Arts ( MA Economics). His interest in economics arose during the time of the Great Depression. It explained later in a lecture from 1991:

After graduation, he did his military service in the U.S. Army Air Forces and was last captain of the Tuskegee Airmen, a group of prominent African-American pilots who flew combat missions for the 332nd and the 477th Fighter Group in World War II.

In the early 1950s, he still received as an assistant at the Faculty of Economics at the University of California, Berkeley (UC Berkeley ), a grant from the Fulbright program, which led him to India, where he was a visiting researcher at the Reserve Bank of India. His studies on the local economic development was the basis of his dissertation.

After teaching at UC Berkeley and Cornell University, he worked in 1960 as part of a sabbatical as an economist at the Federal Reserve Bank of New York. Two years later he accepted the offer in 1962 the U.S. Agency for International Development on a place in the newly independent Nigeria, where he presented his knowledge in building the Central Bank of Nigeria available.

This was followed by his appointment in 1964 as Deputy Director of the Office of developing countries in the U.S. Treasury Department, where he worked with them to formulate fiscal policy bases for the states in Africa, Asia and the Middle East. This work led to U.S. President Lyndon B. Johnson in 1966 appointed him Alternating Director and finally as Acting Director for the USA at the World Bank.

Governor of the Federal Reserve System

U.S. President Jimmy Carter called Rice in March 1979 in the seven-member Board of Governors (Board of Governors ) of the Federal Reserve System, which sets monetary policy and regulations for the U.S. banks hits. He was there the second African American by Andrew F. Brimmer, who was appointed to the Board.

During the tenure of the Federal Reserve System Chairman Paul Volcker Rice helped eight years in the design of fiscal policy during a recession and the Savings -and -loan crisis of the 1980s. He headed the administrative committee of the Board of Governors, which for the time of which international organizations and outreach programs monitored, in particular, these were his interests, as he dealt in particular with the U.S., but also international economic opportunities and developments. In 1987, he finally retired.

Emmett John Rice, who died of heart failure, was the father of former Assistant Secretary of State and current U.S. ambassador to the United Nations, Susan E. Rice.