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January 1, 2014

Anonymous

Lyle E. Gramley has been one of the Mortgage Bankers Association's (MBA's) most distinguished assets. A World War II veteran, he earned his bachelor's degree from Beloit College . He then studied economics at Indiana University , earning a master's degree and a doctorate. In 1955, he joined the Federal Reserve Bank of Kansas City as a financial economist. Seven years later, be became associate professor of economics at the University of Maryland . In 1964, Gramley joined the Federal Reserve Board as a senior economist, rising to the position of director of the Division of Research and Statistics . In 1977, he became one of the three members of the President's Council of Economic Advisers (CEA). Nominated by President Jimmy Carter , Gramley was appointed a member of the Board of Governors of the Federal Reserve System in 1980. During his tenure as a board member, Gramley "helped steer the country through many economic stresses, including a significant recession from 1981 to 1982 as well as a savings-and-loan crisis," according to a Fed biography. In September 1985 , he left the Board of Governors to become chief economist for the Mortgage Bankers Association , where he remained for seven years. While at MBA, he authored numerous housing and economic outlook articles for "Mortgage Banking" magazine, and represented the association on industry discussion panels and behind the podium at conferences. He added his muscle to MBA's research and economic studies, and vÍas relied upon for his policy expertise and forecasting abilities. Gramley left MBA in 2002 and joined the Schwab Washington Research Group (later the Stanford Washington Research Group ) as a senior economic adviser. In 2007 he went to work for Soleil Securities Corporation as chief economic strategist, and in 2008 he joined Potomac Research Group as a senior economic adviser and later a consulting economist. He retired in 2013 after almost 60 years of tireless work in the field of economics. Over his long and notable career, Gramley's has been a familiar face on Washington TY policy roundtables and on the Hill, and an oft-quoted source for major news publications. He has been recognized with awards from prestigious organizations ranging from the national Association for Business Economics (HABE) to the Money Marketeers of Hew York University Inc.


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Source: Mortgage Banking


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