A father and son who worked in this building greatly shaped our nation's economy.
William McChesney Martin, Sr. is credited with helping to write the Federal Reserve Act in 1913, creating the Federal Reserve System. He headed the Federal Reserve Bank of St. Louis from its founding until 1941.
His son, William McChesney Martin, Jr., worked here as a bank examiner in 1928. He moved to New York and, at 31, became the first paid president of the New York Stock Exchange.
Martin, Jr. also chaired the Federal Reserve Board through five administrations, from Harry S. Truman to Richard M. Nixon. On controlling inflation, he said that the Federal Reserve's role was "to take away the punch bowl when the party gets going."
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