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Biographical / Historical
Edward W. Kelley, Jr. was president of Kelley Industries, a Houston-based holding company with businesses in manufacturing and distribution. He then served as chairman of the board of Investment Advisors, also in Houston. In 1987, his valuable perspective as a business executive was called upon when he began a term of service as a governor on the Federal Reserve board. He was instrumental in preparing the Federal Reseve system for Y2K, to make sure the Federal computer sytems would keep running as the year 1999 turned over into 2000. These preparations helped the same system keep running effortlessly after the 2001 terrorist attacks. Kelley served on the Federal Reserve board until 2001, when he retired. He was honored in 2005 by having the new Federal Reserve branch bank building in Houston named after him, and praised by then Federal Reseve Chairman Alan Greenspan in a speech at the building's dedication.