J. Dewey Daane

The Frank K. Houston Professor of Finance, Emeritus
Senior Advisor, Financial Markets Research Center

Subject Area(s): Finance, Strategy and Business Economics

A chaired professor at Owen since 1974, J. Dewey Daane also has had a distinguished career in government, including 35 years of combined service with the Federal Reserve System and the U.S. Treasury Department. In his teaching, Professor Daane focuses on the evolution of the international monetary system, and on monetary and fiscal policy. He provides students a unique opportunity to discuss the intricacies of monetary policy with current and former financial and regulatory leaders.

Professor Daane spent more than 20 years in public service at the regional bank level, first at the Federal Reserve Bank of Richmond, Virginia, where he became Director of Economic Research, and then as Economic Advisor to the President and Board of Directors of the Federal Reserve Bank of Minneapolis. He served briefly as Assistant Secretary of the Treasury for Debt Management and was subsequently appointed Deputy Undersecretary of the Treasury for Monetary Affairs, working with Undersecretary Robert Roosa and Secretary of the Treasury Douglas Dillon. President John F. Kennedy then appointed Professor Daane to the Federal Reserve Board. As a Federal Reserve Board member, Professor Daane was a voting member of the Federal Open Market Committee, the principal policymaking body in the Federal Reserve System. Generally regarded as the international representative of the Board of Governors, Professor Daane represented the United States from 1963 to 1974 as one of the two U.S. deputies of the Group of Ten in their frequent meetings related to the international monetary crises. He also represented the U.S. in the early 1970s as one of the two U.S. Deputies of the Committee of Twenty on reform of the International Monetary System.

For more than two decades Professor Daane has participated in the The Wall Street Journal's semi-annual (now monthly) economic forecasts. In recent years, Professor Daane held positions as public director of the Chicago Board of Trade and the National Futures Association. He also served as a director of the Whittaker Corporation. In 2002, Professor Daane received a Lifetime Achievement Award from Owen recognizing his nearly three decades of service to the School.

Education:
A.B., Duke University
M.P.A., Harvard University
D.P.A., Harvard University, 1949

Research Interest(s):
Monetary economics, balance of payments.

Area(s) of Expertise:
International monetary system, international finance.