The President today announced his intention to nominate Edward W. Kelley, Jr., to be a member of the Board of Governors of the Federal Reserve System for a term of 14 years, from February 1, 1990. This is a reappointment.
Since 1987 Mr. Kelley has served as a member of the Board of Governors of the Federal Reserve System. Prior to this, he was chairman of the board of Investment Advisors, Inc., in Houston, TX, 1981 - 1987. In addition, he has served as chairman of board of the Shoreline Companies, Inc., and director of Texas Industries, Inc.
Mr. Kelley graduated from Rice University (B.A., 1954) and Harvard University (M.B.A., 1959). He was born January 27, 1932, in Eugene, OR. He served in the U.S. Naval Reserve, 1954 - 1956. Mr. Kelley is married, has three children, and resides in Washington, DC.