# Nancy Teeters

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**Nancy Hays Teeters** (July 29, 1930 – November 17, 2014) was an American economist and corporate executive who served as a member of the [Federal Reserve Board of Governors](/source/Federal_Reserve_Board_of_Governors) from 1978 to 1984.[1] A member of the [Democratic Party](/source/Democratic_Party_(United_States)), Teeters was the first woman to sit on the Board.[1] She was nominated by President [Jimmy Carter](/source/Jimmy_Carter) to fill out the remainder of the term of [Arthur F. Burns](/source/Arthur_F._Burns), a former chairman of the Fed. Teeters was known for her public statements in which she dissented from the mainstream opinion of the Board and Chairman [Paul Volcker](/source/Paul_Volcker).[2]

## Early life and education

Teeters was the youngest of three children born to Edgar Hayes, a box salesman, and Mabel, a homemaker. She received a bachelor's degree from [Oberlin College](/source/Oberlin_College) in 1952 and a master's degree from the [University of Michigan](/source/University_of_Michigan) in 1954, both in [economics](/source/Economics).[2]

## Career

In 1957, Teeters joined the [Federal Reserve](/source/Federal_Reserve) as a staff economist in the Division of Research and Statistics. From 1962 to 1963, she worked as an economist on the staff of the [Council of Economic Advisers](/source/Council_of_Economic_Advisers), then led by Chair [Walter Heller](/source/Walter_Heller). She returned to the Fed for three years and also spent time with the Bureau of the Budget (predecessor of the [Office of Management and Budget](/source/Office_of_Management_and_Budget), the [Brookings Institution](/source/Brookings_Institution), and the [Congressional Research Service](/source/Congressional_Research_Service) prior to her appointment to the [Board of Governors of the Federal Reserve](/source/Federal_Reserve_Board_of_Governors).[1]

After leaving the Fed, she joined [IBM](/source/IBM) as director of economics, and was elected an IBM vice president and chief economist in 1986; the second woman to hold the post. Teeters served in that capacity until her retirement in 1990.[3] She died on November 17, 2014, at the age of 84.

## References

1. ["Nancy H. Teeters"](https://www.federalreservehistory.org/People/DetailView/78). *Federal Reserve History*. Retrieved 29 October 2015.

1. Vitello, Paul (November 24, 2014). ["Nancy H. Teeters, First Woman on Federal Reserve Board, Dies at 84"](https://www.nytimes.com/2014/11/26/business/nancy-h-teeters-first-woman-on-federal-reserve-board-dies-at-84.html?_r=0). *The New York Times*

1. Arnold, Lawrence. ["Nancy Teeters, First Woman on Federal Reserve Board, Dies at 84"](https://www.bloomberg.com/news/articles/2014-11-23/nancy-teeters-first-woman-on-federal-reserve-board-dies-at-84) *Bloomberg Business* November 23, 2014

## External links

- Nancy H. Teeters (1966). [*Some fiscal implications of expansion of the social security system*](https://books.google.com/books?id=glEUAQAAMAAJ). Board of Governors of the Federal Reserve System.
- United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs (1978). [*Nomination of Nancy H. Teeters: hearing before the Committee on Banking, Housing, and Urban Affairs, United States Senate, Ninety-fifth Congress, second session ... September 11, 1978*](https://books.google.com/books?id=vxTXUTkVkawC). U.S. Government Printing Office.

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