Wayne D. Angell was sworn in as a member of the Board of Governors of the Federal Reserve System on February 7, 1986. He retired from the position on February 2, 1994.
Angell was born in Liberal, Kansas. He received a bachelor’s degree from Ottawa University (Kansas) in 1952. Angell went on to earn a master’s degree in 1953 and a doctorate in 1957, both in the field of economics. As a doctoral student, Angell taught economics from 1954 to 1956. From 1956 to 1985, he continued his professorship at the university.
In 1961, Angell was elected to serve as a state representative in the Kansas House of Representatives. In 1964, he performed the duties of vice chairman of the Kansas State Republican Legislative Campaign Committee. From 1969 to 1972, he served as the dean of the College at Ottawa. To further his studies in economic development, Angell engaged in extensive foreign travel to India, Indonesia, China, Thailand, Burma, and the Philippines.
Between 1971 and 1985, Angell served as an officer and director of several banks in Kansas and Missouri. He began his work in the Federal Reserve System in 1972 by serving on a committee that advised Board of Governors staff on bank holding company legislation and regulation. In 1979, Angell joined the board of directors of the Federal Reserve Bank of Kansas City.
In February 1986, President Ronald Reagan nominated Angell to the Board of Governors. Angell served as chair of the Board’s Committee on Federal Reserve Bank Activities as well as chair of the G-10 Committee on Payment and Settlement Systems in Basel, Switzerland. During his time at the Board, Angell delivered a series of noteworthy speeches, including "A Proposal to Rely on Market Interest Rates on Intraday Funds to Reduce Payment System Risk," "The Evolution of the Payments System," and "Cooperative Approaches to Reducing Risks in Global Financial Markets."
Upon his retirement from the Board of Governors, Angell joined Bear Stearns & Co., Inc. He served as chief economist and senior managing director before leaving the company in 2002. Angell is currently involved with Angell Economics, a venture that forecasts economic and monetary policy conditions.
Throughout his life, Angell has been an active member of the Baptist Church. He has served as president of the Kansas Baptist Convention, trustee of the Kansas Baptist Foundation, and vice chairman of the Board of International Ministries of the American Baptist Churches. Angell is the recipient of numerous honors and awards, including Phi Beta Kappa from the University of Kansas and Who’s Who in America. He is a member of the American Economic Association.
Angell lives in Arlington, Virginia, with his wife, Betty.
Written by the Board of Governors of the Federal Reserve System. See disclaimer.