Nomination of Wendy Lee Gramm To Be a Commissioner and Chairman of the Commodity Futures Trading Commission

The President today announced his intention to nominate Wendy Lee Gramm to be a Commissioner of the Commodity Futures Trading Commission for the remainder of the term expiring April 13, 1990, and to be Chairman of the Commodity Futures Trading Commission. She would succeed Susan Meredith Phillips in both capacities.

Since 1985 Dr. Gramm has been Associate Director for Information and Regulatory Affairs at the Office of Management and Budget in Washington, DC. She is currently the Executive Director of the Presidential Task Force on Regulatory Relief, which was reestablished in 1986. Prior to this, she was Director for the Division of Consumer Protection at the Federal Trade Commission's Bureau of Economies, 1983 to August 1984, and returned to that position in November 1984 until October 1985; and Assistant Director, 1982-1983. From 1979 to 1982, Dr. Gramm was a research staff member for the Institute for Defense Analyses in Alexandria, VA. She has served with Texas A&M University in various capacities: director of undergraduate programs, department of economics, 1974-1977; associate professor, 1975-1979; and assistant professor, 1970-1975.

Dr. Gramm graduated from Wellesley College (B.A, 1966) and Northwestern University (Ph.D., 1971). She was born January 10, 1945, in Waialua, HI. Dr. Gramm is married, has two children, and resides in Washington, DC.