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Alice M. Rivlin

Vice Chairman of the Federal Reserve
In office
June 25, 1996 – July 16, 1999
Nominated by Bill Clinton
Preceded by Alan S. Blinder
Succeeded by Donald Kohn

In office
October 17, 1994 – April 26, 1996
President Bill Clinton
Preceded by Leon Panetta
Succeeded by Franklin D. Raines

In office
February 24, 1975 – August 31, 1983
President Jimmy Carter
Succeeded by Rudolph G. Penner

Born March 4, 1931
Philadelphia, Pennsylvania
Political party Democratic
Profession Economist

Alice Mitchell Rivlin (born March 4, 1931, in Philadelphia) is an economist, a former U.S. Cabinet official, and an expert on the budget. She was also previously the Vice Chairman of the Federal Reserve, and the 1st Director of the Congressional Budget Office. She is currently on the board of directors of the New York Stock Exchange.

Early life and education

Rivlin is daughter of the physicist Allan C. G. Mitchell and granddaughter of the astronomer Samuel Alfred Mitchell.

Rivlin is an alumna of the Madeira School, earned a B.A. at Bryn Mawr College in 1952 and earned a Ph.D. from Radcliffe College in 1958. She has been affiliated several times with the Brookings Institution, including stints in 1957–66, 1969–75, 1983–93, and 1999 to the present. She is currently a visiting professor at the Georgetown Public Policy Institute.


She was appointed by President Lyndon Johnson as Assistant Secretary for Planning and Evaluation, United States Department of Health, Education, and Welfare from 1968 to 1969. In 1971 she authored Systematic Thinking for Social Action.

She was the first director of the newly established Congressional Budget Office during 1975–83, where she was a persistent and vociferous critic of Reaganomics as head of the CBO. In 1983, she won a MacArthur Foundation "genius" award.

Under President Bill Clinton she served as the deputy director of Office of Management and Budget from 1993 to 1994, director of OMB from 1994 to 1996 (becoming the first woman to hold the position), and a governor of the Federal Reserve from 1996 to 1999, during which time she served as the Fed's vice-chair. She was also chair of the District of Columbia Financial Responsibility and Management Assistance Authority from 1998 to 2001.


Political offices
Preceded by
Leon Panetta
Director of the Office of Management and Budget
Succeeded by
Franklin Raines
Government offices
Preceded by
Alan Blinder
Vice Chairman of the Federal Reserve
June 25, 1996 – July 16, 1999
Succeeded by
Roger W. Ferguson Jr.


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