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FRB: Press Release -- Letter of resignation of Vice Chair Rivlin -- June ... 1 of 1 https://www.federalreserve.gov/boarddocs/press/general/1999/19990603... BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM WASHINGTON, D. C. 20551 ALICE M. RIVLIN VICE CHAIRMAN June 3, 1999 The Honorable William J. Clinton President The White House Washington, D.C. 20500 Dear Mr. President: I write to submit my resignation from the Federal Reserve Board of Governors (and from my position as Vice Chair) effective July 16, 1999. I have had a wonderful time at the Federal Reserve. It has been a privilege to serve with Alan Greenspan and my fellow members on the Board for the last three years. The Fed is a strong bulwark of U.S. economic policy, and I believe we have contributed to keeping the American economy growing and reducing strains in the international financial system. Thank you for giving me this opportunity. It was also an enormous privilege to be part of the Clinton economic team and help put together the policies that turned that huge budget deficit into a surplus. We did the right thing and it worked! I am proud to have been there with you. Please note that I am definitely not resigning as Chair of the D.C. Financial Assistance Authority. Indeed, I hope to spend more time and to be more effectively involved in the city than I have been able to be at the Fed. I will be returning to the Brookings Institution, with a joint appointment in the Economic Studies Program and the Urban Policy Center. That should allow me to do more research and writing of my own, manage the Financial Authority until it goes out of business, and spend more time with my husband and my grandchildren. Thank you, Mr. President, for the exciting opportunity to serve at the Fed and at OMB and for the continuing chance to serve the Nation's Capital. With warm personal regards, (Signed Alice) Alice M. Rivlin 7/30/2024, 3:40 PM