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Frederick H. Schultz

Vice Chair, Board of Governors, 1979–1982

Born: January 16, 1929
Died: November 23, 2009

Frederick H. Schultz took office as vice chairman of the Board of Governors of the Federal Reserve System on July 27, 1979. He resigned February 11, 1982.

Schultz was born in 1929, in Jacksonville, Florida. He received a bachelor’s degree from Princeton University in 1952. From 1952 to 1954, he served in the US Army. He was an artillery officer in Korea, where he was awarded the Bronze Star. He also received the Korean Service Medal and the UN Medal. Following military service, he attended Florida Law School (1954–56).
In 1956, Schultz joined Barnett National Bank of Jacksonville. The next year, he opened his own firm, Schultz Investments. At the time of his appointment to the Board of Governors, he was chairman of the board of Barnett Investment Services, Inc., and was a director of Barnett Banks of Florida and several other major companies.
Schultz was active in public service throughout his career. He was elected to the Florida House of Representatives in 1963 and served as speaker from 1968 to 1970. Beginning in 1971, he was chairman of the Citizens’ Committee on Education, which conducted a two-year study of education in Florida. He also served as chairman of the Florida Education Council and was a member of the National Council on Educational Research.

Shultz held a number of leadership roles in public service, including president of the Jacksonville Chamber of Commerce and a trustee of Jacksonville University. He received many civic service awards, including the Louis Brownlow Prize given to him in 1969 by the American Association of Public Administration and the Council of State Governments. In addition, he was a Kennedy Fellow at Harvard University Institute of Politics in 1971.

After leaving the Board of Governors, Schultz returned to Florida and continued serving his community. In 1997, he founded The Schultz Center for Teaching and Leadership in Jacksonville.

Schultz died in 2009.

Written by the Board of Governors of the Federal Reserve System. See disclaimer.