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January 25, 1966

MEMORANDUM FOR THE PRESIDENT
Subject: Andrew Brimmer
1 As you instructed, I phoned Brimmer and had a good talk with
.
him,
2. He suggests two Negroes for the FDIC or other financial lobs
(but they are from ineligible districts for the Fed):
Theodore Jones: Now Midwest Poverty Director for
Schriver. Jones* real strength is finance. He was
Executive Vice President of Supreme Liberty Life
Insurance in Chicago.
Huggins: President of Carver Savings and Loan in
New York -- he may be a Republican, says Brimmer,
but is a political moderate and a man of financial
integrity and experience.
3. Brimmer is clearly interested in the Fed vacancy, and Jack
Connor has talked to him about it. As for Brimmer * views:
s
He felt the timing of the discount rate was “atrocious,*
'
that it should have waited until the President had
reviewed the whole economic and fiscal situation.
He believes in the positive use of monetary policy
for economic expansion, with occasional restraint in
tight situations like the present.
He says nI am in the middle, leaning toward Main
Street, not Wall Street."
He is clearly a "Johnson man" but might l n ? the
ug
traces once in a great while.




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4, Brissuer was on the staff of the Hew York Fed for three years,
during which time he helped set up the Central Bank of Sudan.
5. t t Russell Long * man, Adcock, I talked with Secretary Fowler
o
s
as you instructed:
• There is a real question whether he is from an
.
eligible district:
— His hoioe, Monroe, falls/ in the Dallas
District.
•/ ’
-- One of his places of business is Baton Rouge,
which is in the Atlanta District.
.

One possibility: A conditional commitment to appoint
him in January 1968 at the end of Shepardson' term.
s

•

Secretary Fowler will cover this with you in detail.

Walter W. Heller

cc:

Secretary Fowler





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