Philip Coldwell

Federal Reserve Board Governor Phil Coldwell became my friend and mentor after I joined the Board in 1975. Phil worked very closely with Chairman Arthur F. Burns on the difficult financial and economic issues of the day. Whenever the Chairman needed someone to testify on a pending legislative proposal which would have
undermined the independence of the Federal Reserve System, Governor Coldwell was sent to the Hill to say "no". He never budged an inch and those were years when
the...