Robert P. Mayo
Robert Porter Mayo | |
|---|---|
| Born | Template:Birth date Seattle, Washington, U.S. |
| Died | January 25, 2003 (aged 86) |
| Occupation(s) | Economist, government official |
| Years active | 1937–1981 |
| Known for | Director of the United States Office of Management and Budget (1969–1970); President of the Federal Reserve Bank of Chicago (1970–1981) |
Robert Porter Mayo (March 15, 1916 – January 25, 2003) held the position of director at the United States' Office of Management and Budget from January 22, 1969, to June 30, 1970. He was the final leader before the agency was renamed from the Bureau of the Budget.
A native of Seattle, Washington, Mayo completed a bachelor's degree in business in 1937 and followed with a master's degree in economics in 1938, both from the University of Washington. His professional journey began at the Washington State Tax Commission, where he worked as an auditor and subsequently advanced to director of research.
In 1941, Mayo entered the Department of Treasury as an economic analyst and rose to become the assistant to the Secretary of Treasury responsible for debt management. After departing government service in 1961, he assumed the role of vice president at Continental Illinois Bank. There, he collaborated with former Treasury associate David M. Kennedy and managed public affairs along with trust investments. Additionally, Mayo played an active role in supporting black capitalism efforts within Chicago.
Recognized for his meticulous approach and fiscally conservative stance, Mayo was appointed by President Richard Nixon in 1969 to formulate initial policy budgets. He also endorsed Nixon’s initiatives aimed at enhancing African American economic participation through black capitalism programs. Nevertheless, Mayo’s rapport with Nixon soured due to personality differences and disputes over influence involving John Ehrlichman. Consequently, in July 1970, Mayo was reassigned as president of the Federal Reserve Bank of Chicago, which enabled his return to Chicago. He remained in this capacity until his retirement in 1981. At the time of his passing in 2003, Mayo served on the board of directors for the Chicago YMCA.