Raymond J. Saulnier
Encyclopedia
Raymond Joseph Saulnier (September 20, 1908 – April 30, 2009) was an American economist, who was Chairman of the Council of Economic Advisers
(CEA) from 1956 to 1961 under President Dwight David Eisenhower. He was born in Hamilton, Massachusetts
.
, 1929 where he was President of the Class. He studied at Braker Teaching Fellowship at Tufts College (later Tufts University
) where he earned an MA in Economics in 1931. He earned his Ph.D. from Columbia University
in 1938.
from 1946-1961. He initiated the use of economic indicator
s developed at the National Bureau within the White House and government in general. In 1959 while at the CEA, he provided the Economic Brief (with CEA staff member Irving Siegel and the Justice Department) that went to the Supreme Court making the economic case for terminating, by Taft-Hartley injunction, the industry-wide steel strike
that was having a significant negative effect on the US economy. He was professor at Columbia University
/Barnard from 1944 to 1973.
Saulnier was preceded by Arthur Burns as Chairman of the CEA (also of Columbia University) during Eisenhower's first term and Leon Keyserling, Chairman during most of President Truman's term. Through his writings and personal letters to economists such as Herb Stein (Chairman of the CEA 1972-74) he argued for an independent, non-political CEA to advise the President and act as a resource outside of the politics of the Treasury Department.
, Missouri Pacific Railroad
, American Potash and Chemical, Howmet Corporation, and Houdaille Industries. He is a consultant to Marine Midland Bank
of New York and Harold Geneen
, Chairman of International Telephone & Telegraph (ITT). He was a member of the Board of Trustees (Finance Committee), Middlebury College
1956-1973, as well as a member of the Century Club
. Until his death, he resided in Chestertown, Maryland
.
Council of Economic Advisers
The Council of Economic Advisers is an agency within the Executive Office of the President that advises the President of the United States on economic policy...
(CEA) from 1956 to 1961 under President Dwight David Eisenhower. He was born in Hamilton, Massachusetts
Hamilton, Massachusetts
Hamilton is a town located in the eastern central portion of Essex County in eastern Massachusetts. It is primarily a suburban bedroom community, most commonly known for its equestrian estates...
.
Education
Saulnier graduated Middlebury CollegeMiddlebury College
Middlebury College is a private liberal arts college located in Middlebury, Vermont, USA. Founded in 1800, it is one of the oldest liberal arts colleges in the United States. Drawing 2,400 undergraduates from all 50 United States and over 70 countries, Middlebury offers 44 majors in the arts,...
, 1929 where he was President of the Class. He studied at Braker Teaching Fellowship at Tufts College (later Tufts University
Tufts University
Tufts University is a private research university located in Medford/Somerville, near Boston, Massachusetts. It is organized into ten schools, including two undergraduate programs and eight graduate divisions, on four campuses in Massachusetts and on the eastern border of France...
) where he earned an MA in Economics in 1931. He earned his Ph.D. from Columbia University
Columbia University
Columbia University in the City of New York is a private, Ivy League university in Manhattan, New York City. Columbia is the oldest institution of higher learning in the state of New York, the fifth oldest in the United States, and one of the country's nine Colonial Colleges founded before the...
in 1938.
Career
Saulnier was Director of the Financial Research Program at the National Bureau of Economic ResearchNational Bureau of Economic Research
The National Bureau of Economic Research is an American private nonprofit research organization "committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic community." The NBER is well known for providing start and end...
from 1946-1961. He initiated the use of economic indicator
Economic indicator
An economic indicator is a statistic about the economy. Economic indicators allow analysis of economic performance and predictions of future performance. One application of economic indicators is the study of business cycles....
s developed at the National Bureau within the White House and government in general. In 1959 while at the CEA, he provided the Economic Brief (with CEA staff member Irving Siegel and the Justice Department) that went to the Supreme Court making the economic case for terminating, by Taft-Hartley injunction, the industry-wide steel strike
Steel strike of 1959
The steel strike of 1959 was a 1959 labor union strike by the United Steelworkers of America against major steel-making companies in the United States....
that was having a significant negative effect on the US economy. He was professor at Columbia University
Columbia University
Columbia University in the City of New York is a private, Ivy League university in Manhattan, New York City. Columbia is the oldest institution of higher learning in the state of New York, the fifth oldest in the United States, and one of the country's nine Colonial Colleges founded before the...
/Barnard from 1944 to 1973.
Saulnier was preceded by Arthur Burns as Chairman of the CEA (also of Columbia University) during Eisenhower's first term and Leon Keyserling, Chairman during most of President Truman's term. Through his writings and personal letters to economists such as Herb Stein (Chairman of the CEA 1972-74) he argued for an independent, non-political CEA to advise the President and act as a resource outside of the politics of the Treasury Department.
Personal
He married Estelle Sydney March 17, 1934. He is the father of Mark Saulnier (December 31, 1934) and Alice Saulnier (June 8, 1938). He is the board member of industrial and financial companies including New York Bank for Savings, American Stock ExchangeAmerican Stock Exchange
NYSE Amex Equities, formerly known as the American Stock Exchange is an American stock exchange situated in New York. AMEX was a mutual organization, owned by its members. Until 1953, it was known as the New York Curb Exchange. On January 17, 2008, NYSE Euronext announced it would acquire the...
, Missouri Pacific Railroad
Missouri Pacific Railroad
The Missouri Pacific Railroad , also known as the MoPac, was one of the first railroads in the United States west of the Mississippi River. MoPac was a Class I railroad growing from dozens of predecessors and mergers, including the St. Louis, Iron Mountain and Southern Railway , Texas and Pacific...
, American Potash and Chemical, Howmet Corporation, and Houdaille Industries. He is a consultant to Marine Midland Bank
Marine Midland Bank
Marine Midland Bank was a bank formerly headquartered in Buffalo with several hundred branches throughout the state of New York. Marine Midland began in 1850 in Buffalo as the Marine Trust Company with the objective of financing the new shipping trade on the Great Lakes...
of New York and Harold Geneen
Harold Geneen
Harold "Hal" Sydney Geneen , was an American businessman most famous for serving as president of the ITT Corporation.-Biography:...
, Chairman of International Telephone & Telegraph (ITT). He was a member of the Board of Trustees (Finance Committee), Middlebury College
Middlebury College
Middlebury College is a private liberal arts college located in Middlebury, Vermont, USA. Founded in 1800, it is one of the oldest liberal arts colleges in the United States. Drawing 2,400 undergraduates from all 50 United States and over 70 countries, Middlebury offers 44 majors in the arts,...
1956-1973, as well as a member of the Century Club
Century Club
Century Club may refer to:*Centurion, a variation of the drinking game known as Power Hour*The Century Association, a prominent private authors and artists club, with its own building, in New York City...
. Until his death, he resided in Chestertown, Maryland
Chestertown, Maryland
Chestertown is a town in Kent County, Maryland, United States. The population was 4,746 at the 2000 census. It is the county seat of Kent County. The ZIP code is 21620 and the area codes are 410 and 443...
.