Lyle Elden Gramley

GRAMLEY LYLE E. GRAMLEY (Age 88) A former member of the Board of Governors of the Federal Reserve, died at home in Potomac, MD on March 22, 2015 surrounded by his family. Gramley, who was nominated for membership on the Federal Reserve Board by President Jimmy Carter, served from 1980-85 under Chairman Paul Volcker. He had previously been a member of the President's Council of Economic Advisers, 1977-80, serving with Chairman Charles Schultze and Member William Nordhaus. Earlier, Gramley was a member of the professional staff of the Federal Reserve Board, 1964-77, where he became Director of the Division of Research and Statistics. His career with the Fed began when he joined the staff of the Federal Reserve Bank of Kansas City, 1955-62. Gramley joined the Mortgage Bankers Association in 1985 as Chief Economist. He left MBA in 2002 and became a self-employed consultant. He retired in 2011. In his first years in Washington, Gramley was an associate professor of economics at the University of Maryland, 1962-64. Lyle Elden Gramley was born January 14, 1927, in Aurora, IL, the youngest of four children of Cook L. and Myrtle A. (Pflugfelder) Gramley. He was predeceased by his parents and older siblings: Geraldine, Leone, and Wilbur. He served in the U. S. Navy from 1944-47 where he was an electronic technician in the submarine service, serving on the USS Requin 1946-47. Following his naval service, Gramley attended Aurora University in his hometown before transferring to Beloit College, Beloit, WI, where he earned a bachelor's degree in 1951. He went on to graduate school in economics at Indiana University 1951-55, and received a PhD degree in 1956. He always appreciated the education benefits he received under the G. I. Bill and never hesitated to say how much a factor it had been in starting him on the path to his rewarding career. Gramley married Evelyn L. Wachtel, a concert pianist, in 1951. Two children were born of this marriage, Alan W. Gramley (Beatriz) and Lynn Gramley Dawson (James Perrotta), who survive him along with his two granddaughters, Paula Dawson and Virginia Dawson. Evelyn died in 1981. He married Sandra D. Royal in 1983; that marriage ended in divorce. He married Marlys Fee Jensen in 1989 and she survives him along with his stepsons from that marriage, Michael A. Jensen and Kevin C. Jensen. An active horseback rider for more than 20 years, Gramley enjoyed fox hunting and played club polo. With retirement he was able read avidly with a special appreciation for World War II history and biographies of twentieth century statesmen. Throughout his adult life, classical music was one of his deepest passions, especially learning so much from his first wife, Evelyn. Relatives and friends are invited to call at Joseph Gawler's Sons, 5130 Wisconsin Avenue, NW (corner of Harrison Street) Washington, DC on Friday, March 27, 2015 from 6 p.m. until 8:30 p.m. For more information please visit www.josephgawlers.net. Arrangements by Joseph Gawler's Sons. In lieu of flowers, the family suggests that donations be made to Montgomery Hosice, 1355 Piccard Dr., Suite # 100, Rockville, MD 20850, www.montgomeryhospice.org or to Sibley Memorial Hospital Foundation (in memory of Lyle and in honor of Matthew D. Ammerman, MD), 5255 Loughboro Rd. NW, Washington, DC 20016, www.sibleyfoundation.org.