George W. Mitchell

George Wilder Mitchell (February 23, 1904 – January 25, 1997) was an American economist who served as the 9th vice chairman of the Federal Reserve from 1973 to 1976.

Prior to his term as vice chairman, Mitchell served as a member of the Federal Reserve Board of Governors, taking office in 1961.

[1] In 1943, Mitchell joined the staff of the Federal Reserve Bank of Chicago, but was also as a consultant for the Bureau of Internal Revenue.

Shortly thereafter, he was thrust into a difficult position of resisting a guarantee of the municipal bonds of New York City, echoing the stance favored by President Gerald Ford.

[2] Ultimately, the federal government helped New York City avoid bankruptcy with a loan and debt restructuring by the Municipal Assistance Corporation in 1975.