Marriner Stoddard Eccles President

Marriner Stoddard Eccles (September 9, 1890 – December 18, 1977) was a U.S. banker, economist, and member and chairman of the Federal Reserve Board.Marriner Stoddard Eccles was known during his lifetime chiefly as having been the Chairman of the Federal Reserve under President Franklin Delano Roosevelt. He has been remembered for having even anticipated and certainly then having supported the theories of John Maynard Keynes relative to "inadequate aggregate spending" in the economy which appeared during his tenure. As Eccles wrote in his memoir Beckoning Frontiers (1966 [1951]):"As mass production has to be accompanied by mass consumption, mass consumption, in turn, implies a distribution of wealth ... to provide men with buying power. ... Instead of achieving that kind of distribution, a giant suction pump had by 1929-30 drawn into a few hands an increasing portion of currently produced wealth. ... The other fellows could stay in the game only by borrowing. When their credit ran out, the game stopped."

Personal facts

Birth date	September 09, 1890
Birth place	Utah , Logan Utah , United States
Religion	The Church of Jesus Christ of Latter-day Saints
Date of death	December 18, 1977
Place of death	Salt Lake City , Utah , United States
Education	Brigham Young College
Profession	Economist , Businessperson , Bank