Coldwell, Philip E., 1922-2008

Philip E. Coldwell served as the eighth president of the Federal Reserve Bank of Dallas from February 1, 1968, to October 28, 1974, and as a member of the Board of Governors from October 29, 1974, to February 29, 1980. Coldwell began his career with the Federal Reserve System as an economist at the Federal Reserve Bank of Kansas City in 1951, leaving in 1952 to join the Dallas Fed as an industrial economist in the Research Department. Two years later, he became director of research at the Bank. In 1960, Coldwell was elected vice president and in 1962 became vice president and economic advisor to the president of the Dallas Fed. Later that year, he was elected first vice president. In 1968, Coldwell succeeded Watrous Irons to become the Dallas Fed's president. As a member of the Federal Open Market Committee (FOMC) during his presidency, Coldwell generally favored faster money growth. In 1974, President Gerald Ford nominated Coldwell to the Federal Reserve Board of Governors. It was the first time in more than 40 years that a Federal Reserve Bank president had been named to the Board of Governors. (Source: Federal Reserve History)