William E. McChesney Martin Jr.

William E. McChesney Martin Jr. was a prominent American banker and public servant who served as the Chairman of the Federal Reserve from 1951 to 1970. He played a crucial role in shaping U.S. monetary policy during a time of significant economic change, including post-war inflation and the transition to a modern economy. Known for his famous phrase about the Fed's role in "fostering a sound economy," Martin advocated for balancing inflation control with economic growth. His tenure marked a period of increased independence for the Federal Reserve and established principles that are still influential in monetary policy today.