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Central Michigan University
Nancy Teeters dies at 84; first woman on Federal Reserve board
Nancy Teeters dies at 84; first woman on Federal Reserve board

Nancy Teeters, who in 1978 became the first woman on the Federal Reserve board of governors, then continued to stand out by opposing Fed Chairman Paul Volcker's anti-inflation campaign, has died. She was 84. Teeters died Nov. 17 at an assisted living facility in Stamford, Conn., the Washington Post reported, citing her daughter, Ann Teeters Johnson. The cause was complications from strokes. As a Fed governor from 1978 to 1984, Teeters was a lonely dissenting voice when, in her view, the war on inflation led by Volcker went too far. She protested as large banks raised their prime rates to 21.5% in December 1980 and warned that high interest rates would cause the U.S. economy to...

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