Albert Strauss took the oath of office as vice chairman (called “vice governor” before 1935) of the Federal Reserve Board on October 26, 1918. He resigned on March 15, 1920.
Strauss was born in New York City in 1864. He attended the College of the City of New York from 1879 to 1882. After graduating, he joined the international investment banking firm J. & W. Seligman & Co. In 1901, he became a partner at the firm.
Before he was tapped to join the Federal Reserve Board, Strauss served on the Treasury Department’s War Trade Board as well as on the Fed’s gold export committee. He participated in the Paris Peace Conference as a Treasury representative and also advised President Woodrow Wilson concerning financial matters related to transitioning to peace. After his resignation from the Board, he returned to J. & W. Seligman & Co.
Strauss served as director on the boards of several companies throughout the years. These included the Cuba Cane Sugar Corporation, Manati Sugar Co., Pierce Arrow Motor Car Co., Cuban Tobacco Co., and Brooklyn Manhattan Transit Corp.
Strauss married Lucretia Mott Lord in 1896. He died in 1929.
Written by the Board of Governors of the Federal Reserve System. See disclaimer.