Madeline McWhinney Dale, Trailblazing Banker, Is Dead at 98 - News Summed Up

Madeline McWhinney Dale, Trailblazing Banker, Is Dead at 98


In the 1940s and ’50s, when Madeline McWhinney was a young economist at the Federal Reserve Bank of New York, banking was such a men’s club that meetings were often held inside one. “But you do it on the basis of performance, competency, the value you’re delivering — not jawboning.”In her quiet, confident, determined way, Madeline McWhinney rose through the organization’s ranks, becoming the first female officer of the Federal Reserve Bank in 1960. Five years earlier, she was the first woman to run for election to the board of trustees of the Federal Reserve Retirement System, which administered a $160 million pension fund. “The man I’m running against is a nice guy,” she told The New York World-Telegram and Sun. “But it’s time he stepped down to make his chair available to a woman.”


Source: New York Times June 29, 2020 21:45 UTC



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