Vardaman, James K. (James Kimble), 1894-1972

James K. Vardaman Jr. was appointed to the Board of Governors of the Federal Reserve System on April 4, 1946. He resigned on December 1, 1958. Vardaman took office at a time when the Federal Reserve needed to curb inflation resulting from World War II. The Federal Reserve tackled this issue by enacting price controls and using open market operations. During his tenure, Vardaman was a proponent of price and wage controls. (Source: Federal Reserve History)