Authors: Robert King

Publish Date: June 2022

Department: Economics

Marvin Goodfriend inspired many with his ideas about central banking and economics. This memorial project, sponsored by the Federal Reserve Bank of Richmond, begins with three personal reflections by central bankers who knew him well: Al Broaddus, Don Kohn, and Bill Poole. Marvin joined the Richmond Fed in 1978 after studying with Poole at Brown University, rising to be Broaddus’s senior policy adviser. Combining research excellence with a knowledge of both the Fed’s history and its contemporary challenges, Marvin was passionate about Richmond’s contributions to the Federal Open Market Committee meetings in Washington. Attending these meetings at Broaddus’s side in the 1990s and early 2000s, Marvin developed a friendship — based on mutual respect rather than complete coincidence of views — with Kohn. After Marvin joined the Carnegie Mellon faculty in the fall of 2005, his presence in international central banking circles, sometimes as an adviser, only grew.