Alfred Hayes (bank manager)

Alfred Hayes (born July 4, 1910 in Ithaca , New York , † October 21, 1989 in New Canaan , Connecticut ) was an American bank manager and expert on international finance . From 1956 to 1975, Hayes was President of the Federal Reserve Bank of New York .

Alfred Hayes attended Harvard College before moving to Yale for a Bachelor of Arts degree in chemistry . He then studied for a year at the Harvard Business School and then attended a Rhodes scholarship , the New College in Oxford . There he studied economics .

In 1933, Hayes became an analyst in the investment division of City Bank Farmers Trust Co. In 1940, he moved to the National City Bank's interest-bearing securities division . Two years later, he became assistant manager of the investment division of the New York Trust Co. During World War II , Hayes served as a lieutenant in the United States Navy for two years in Washington, DC and in Rome in the financial planning office of the military government and later in the foreign liquidation office Commissioner . After the war, Hayes returned to the New York Trust, where he became vice vice president. From 1949 to 1955, Hayes served as Vice President on behalf of the Trust's International Division.

Hayes' career culminated in 1956-1975 when he was President of the Federal Reserve Bank of New York . When Hayes appeared before the House Banking Committee in 1964 , a staunch opponent of the Federal Reserve System , Wright Patman said to Hayes: “You can veto absolutely anything the President does. You have the power to veto Congress , and that is exactly what you did. You're going too far. ”Hayes' successor was Paul Volcker .

After leaving the Federal Reserve, Hayes served as chairman of Morgan Stanley Capital International (MSCI). He retired in 1981.

Web links

• Biography of the Federal Reserve Bank of New York (English)

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1. ^ Obituary in the New York Times
2. ^ Time: Fight over the Federal Reserve . February 14, 1964 (English)