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Manuel H. Johnson
Manuel Holman "Manley" Johnson Jr. (born February 10, 1949) is an American economist who served as the 13th vice chairman of the Federal Reserve from 1986 to 1990. After leaving the Fed, he has been co-chairman and senior partner at Johnson Smick International, Inc., an investments, economic and political consulting firm. He has also authored or co-authored six books. Early life and education Johnson was born on February 10, 1949, in Troy, Alabama, a small town in rural southeast Alabama. Although formally named Manuel, he often informally goes by "Manley" Northern Trust Economic Research, March 9, 2005 (Accessed December 6, 2009) He attended the |
Vice Chair Of The Federal Reserve
The vice chair of the Board of Governors of the Federal Reserve System is the second-highest officer of the Federal Reserve, after the chair of the Federal Reserve. In the absence of the chair, the vice chair presides over the meetings Board of Governors of the Federal Reserve System. The vice chair and the vice chair for supervision each serve a four-year term after being nominated by the president of the United States and confirmed by the United States Senate, and they serve concurrently as members of the Board of Governors. Both vice chairs may serve multiple terms, pending a new nomination and confirmation at the end of each term, with Ronald Ransom as the longest serving vice chair from 1936 to 1947. They cannot be dismissed by the president before the end of their term. The position of vice chair is currently held by Lael Brainard who was sworn in on May 23, 2022. The position of vice chair for supervision is currently held by Michael Barr who was sworn in on July 19, 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Troy State University
Troy University is a public university in Troy, Alabama. It was founded in 1887 as Troy State Normal School within the Alabama State University System, and is now the flagship university of the Troy University System. Troy University is accredited by the Southern Association of Colleges and Schools Commission on Colleges (SACS) to award associate, baccalaureate, master's, education specialist, and doctoral degrees. In August 2005, Troy State University, Montgomery; Troy State University, Phenix City; Troy State University, Dothan; and Troy State University (main campus) all merged under one accreditation to become Troy University. Prior to the merger, each campus was independently accredited. The merger combined staff, faculty, and administrators into a single university. Today, the university serves the educational needs of students in four Alabama campuses and 60 teaching sites in 17 U.S. states and 11 countries. Troy University has over 100,000 alumni in 50 states of the U. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1949 Births
Events January * January 1 – A United Nations-sponsored ceasefire brings an end to the Indo-Pakistani War of 1947. The war results in a stalemate and the division of Kashmir, which still continues as of 2022. * January 2 – Luis Muñoz Marín becomes the first democratically elected Governor of Puerto Rico. * January 11 – The first "networked" television broadcasts take place, as KDKA-TV in Pittsburgh, Pennsylvania goes on the air, connecting east coast and mid-west programming in the United States. * January 16 – Şemsettin Günaltay forms the new government of Turkey. It is the 18th government, last One-party state, single party government of the Republican People's Party. * January 17 – The first Volkswagen Beetle, VW Type 1 to arrive in the United States, a 1948 model, is brought to New York City, New York by Dutch businessman Ben Pon Sr., Ben Pon. Unable to interest dealers or importers in the Volkswagen, Pon sells the sample car to pay his ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mercatus Center
The Mercatus Center is an American libertarian, free-market-oriented non-profit think tank. Located at George Mason University and directed by the American economist Tyler Cowen, the Mercatus Center works with policy experts, lobbyists, and government officials to connect academic learning and real-world practice. Taking its name from the Latin word for ''market'', the center advocates free-market approaches to public policy. During the George W. Bush administration's campaign to reduce government regulation, ''The Wall Street Journal'' reported, "14 of the 23 rules the White House chose for its 'hit list' to eliminate or modify were Mercatus entries". According to the ''2017 Global Go To Think Tank Index Report'' (Think Tanks and Civil Societies Program, University of Pennsylvania), Mercatus is number 39 in the "Top Think Tanks in the United States" and number 18 of the "Best University Affiliated Think Tanks". The Koch family has been a major financial supporter of the organizat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Accounting Foundation
The Financial Accounting Foundation (FAF) is located in Norwalk, Connecticut, United States. It was organized in 1972 as a non-stock, Delaware Corporation. It is an independent organization in the private sector, operating with the goal of ensuring objectivity and integrity in financial reporting standards. The foundation is responsible for: * Establishing and improving financial accounting and reporting standards; * Educating constituents about those standards; * The oversight, administration, and finances of its standard-setting Boards, the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB), and their Advisory Councils; * Selecting the members of the standard-setting Boards and Advisory Councils; and * Protecting the independence and integrity of the standard-setting process. FAF operates four branches in its organization: * FASB * GASB * The Financial Accounting Standards Advisory Council (FASAC). This branch is composed of FA ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
NVR (homebuilding Company)
NVR, Inc. is a company engaged in home construction headquartered in Reston, Virginia. It also operates a mortgage banking and Title (property), title services business. The company primarily operates on the East Coast of the United States, but its operations encompass 14 states as well as Washington, D.C. In 2021, 22% of the company's revenue was from the Washington metropolitan area. NVR operates under the Ryan Homes, NVHomes and Heartland Homes brands. The company typically does not engage in land development; it acquires finished land lots that are ready for building, which the company believes mitigates risk. As of 2022, the company is the 4th largest home construction company in the United States based on the number of homes closed. It is ranked 389th on the 2022 Fortune 500. The company's stock price is the second most expensive on U.S. exchanges, behind only Berkshire Hathaway's Class A shares. History The company was formed in 1980 as NVHomes, Inc. (formerly North Virg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
David Smick
David M. Smick, Sr. is an American global macroeconomic strategist, magazine publisher, best-selling author, and documentary filmmaker. He is the chairman and CEO of Johnson Smick International, a global strategic advisory firm in Washington, D.C. where he is in partnership with former Federal Reserve Vice Chairman Manuel H. Johnson. The firm provides strategic advice to some of the world's most successful investors. Smick is a registered independent. Early life and education Smick grew up in a blue collar neighborhood in Baltimore. Career In 1975, Smick started working as a member of the minority policy staff of the United States Senate. From 1978 to 1984, he served as chief of staff to a member of the United States House of Representatives.https://www.ineteconomics.org/research/experts/dmsmick Beginning in 1985, Smick co-organized a series of distinguished global monetary conferences, sponsored by the U.S. congressional leadership, involving many of the industrialized world's f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Group Of Ten (economic)
The Group of Ten (G-10 or G10) refers to the group of countries that agreed to participate in the General Arrangements to Borrow (GAB), an agreement to provide the International Monetary Fund (IMF) with additional funds to increase its lending ability. History The GAB was established in 1962, when the governments of eight International Monetary Fund (IMF) members—Belgium, Canada, France, Italy, Japan, the Netherlands, the United Kingdom, and the United States—and the central banks of two others, Germany and Sweden, agreed to make resources available to the IMF with an additional $6 billion of their resources. The additional money was intended to allow the IMF to have increased lending resources. In 1964, the funds were used by the IMF to rescue the pound sterling. The G-10 grew in 1964 by the association of the eleventh member, Switzerland, then not a member of the IMF, but the name of the group remained the same. Activities The GAB enables the IMF to borrow specifi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Black Monday (1987)
Black Monday is the name commonly given to the global, sudden, severe, and largely unexpected stock market crash on Monday, October 19, 1987. In Australia and New Zealand, the day is also referred to as ''Black Tuesday'' because of the time zone difference from other English-speaking countries. All of the twenty-three major world markets experienced a sharp decline in October 1987. When measured in United States dollars, eight markets declined by 20 to 29%, three by 30 to 39% (Malaysia, Mexico and New Zealand), and three by more than 40% (Hong Kong, Australia and Singapore). The least affected was Austria (a fall of 11.4%) while the most affected was Hong Kong with a drop of 45.8%. Out of twenty-three major industrial countries, nineteen had a decline greater than 20%. Worldwide losses were estimated at US$1.71 trillion. The severity of the crash sparked fears of extended economic instability or even a reprise of the Great Depression. The degree to which the stock market cras ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Reform Act Of 1986
The Tax Reform Act of 1986 (TRA) was passed by the 99th United States Congress and signed into law by President Ronald Reagan on October 22, 1986. The Tax Reform Act of 1986 was the top domestic priority of President Reagan's second term. The act lowered federal income tax rates, decreasing the number of tax brackets and reducing the top tax rate from 50 percent to 28 percent. The act also expanded the earned income tax credit, the standard deduction, and the personal exemption, removing approximately six million lower-income Americans from the tax base. Offsetting these cuts, the act increased the alternative minimum tax and eliminated many tax deductions, including deductions for rental housing, individual retirement accounts, and depreciation. Although the tax reform was projected to be revenue-neutral, it was popularly referred to as the second round of Reagan tax cuts (following the Economic Recovery Tax Act of 1981). The bill passed with majority support in both the Hous ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Recovery Tax Act Of 1981
The Economic Recovery Tax Act of 1981 (ERTA), or Kemp–Roth Tax Cut, was an Act that introduced a major tax cut, which was designed to encourage economic growth. The federal law enacted by the 97th US Congress and signed into law by US President Ronald Reagan. The Accelerated Cost Recovery System (ACRS) was a major component of the Act and was amended in 1986 to become the Modified Accelerated Cost Recovery System (MACRS). Representative Jack Kemp and Senator William Roth, both Republicans, had nearly won passage of a tax cut during the Carter presidency, but Jimmy Carter feared an increase in the deficit and so prevented the bill's passage. Reagan made a major tax cut his top priority once he had taken office. The Democrats maintained a majority in the US House of Representatives during the 97th Congress, but Reagan was able to convince conservative Democrats like Phil Gramm to support the bill. The Act passed the US Congress on August 4, 1981, and was signed into law ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Assistant Secretary Of The Treasury For Economic Policy
The Assistant Secretary of the Treasury for Economic Policy is the head of the Office of Economic Policy in the United States Department of the Treasury. The position is held by Ben Harris. President Joe Biden announced he would nominate Ben Harris to the role on March 11, 2021. Harris was confirmed by the Senate on November 3, 2021 and sworn-in on November 15, 2021 According to U.S. statute, there are ten Assistant Secretaries of the Treasury appointed by the President of the United States with the advice and consent of the United States Senate. The Assistant Secretary of the Treasury for Economic Policy reports directly to the United States Secretary of the Treasury and the United States Deputy Secretary of the Treasury. List of Assistant Secretaries of the Treasury for Economic Policy {, class="wikitable" !Name !Assumed office !Left office !President !, Treasury Secretary , - , Murray Weidenbaum , June 23, 1969 , August 13, 1971 , Richard Nixon , David M. Kennedy, Joh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
