Susan M. Phillips

Susan M. Phillips
Susan M. Phillips
Born	January 23, 1944 (age 82); Richmond, Virginia, U.S.
Occupation(s)	Economist, academic administrator
Years active	1970s–2010
Known for	Federal Reserve Board of Governors (1991–1998), Dean of George Washington University School of Business (1998–2010)

Susan Meredith Phillips (born January 23, 1944) is a distinguished American economist who held a position on the Federal Reserve Board of Governors from 1991 until 1998, becoming the third female member in the Board's history. Following her Federal Reserve tenure, she served as dean of the George Washington University School of Business from 1998 through 2010.

Early life and education

Phillips was born in Richmond, Virginia and raised in a military household, which involved relocating across multiple U.S. states and overseas locations. She obtained a bachelor's degree in mathematics from Agnes Scott College in 1967, then pursued graduate studies at Louisiana State University, earning both a master's and a doctorate in finance and economics by 1973.

Academic career

Her academic journey began with an assistant professorship at Louisiana State University. She later joined the University of Iowa as an assistant professor in business administration between 1974 and 1976. After completing a fellowship at the Brookings Institution, Phillips returned to Iowa as an associate professor in 1978. She subsequently assumed administrative responsibilities overseeing university financial operations, first as Associate Vice President for Finance and University Services starting in 1980, and later advancing to Vice President prior to her Federal Reserve appointment.

Government service

In 1981, Phillips was named commissioner of the Commodity Futures Trading Commission, and in 1983 she became its first female chairperson—marking the first time a woman led a U.S. financial regulatory body. She stepped down in 1987 to re-enter academia.

President George H. W. Bush appointed Phillips to complete Martha R. Seger's term on the Federal Reserve Board in September 1991; she was officially sworn in on December 2, 1991. Her arrival, alongside Lawrence Lindsey, played a significant role in building consensus within the Federal Open Market Committee for interest rate reductions. With Janet Yellen's subsequent appointment, this period marked the inaugural instance of two women serving concurrently on the Board. Although her official term concluded on January 31, 1998, Phillips continued her service until June 30, 1998, pending the confirmation of her successor.

George Washington University

Upon departing the Federal Reserve in 1998, Phillips assumed the role of Dean at the George Washington University School of Business located in Washington, D.C.. Throughout her deanship, she spearheaded crucial fundraising campaigns and oversaw construction projects that enhanced the institution's national standing.

Retirement

Phillips retired from her position at George Washington University in June 2010 with plans to relocate back to her hometown of Fort Walton Beach, Florida.

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