Dr. Schwartz said in a July 2009 commentary for the New York Times that Bernanke, the architect of the central bank’s emergency programs, didn’t deserve reappointment as Fed chief.
“Mr. Bernanke seems to know only two amounts: zero and trillions,” she said, referring to his policy of holding the target interest rate near zero and the expansion of the Fed’s assets to $2 trillion in July 2009, more than double the level of early 2008. The U.S. Senate’s 70 to 30 vote to approve Bernanke for a second four-year term in 2010 marked the greatest opposition to a Fed chairman since the office became subject to Senate confirmation in 1978.
Anna Jacobson was born in New York on Nov. 11, 1915, the third of five children of Hillel Jacobson and the former Pauline Shainmark, Jewish immigrants from Eastern Europe, according to a biography on the Web site of the nonprofit Jewish Women’s Archive. Her father was a manager in a kosher meat department at Swift & Co., according to the biography.
She met her husband, Isaac Schwartz, at a high school Hebrew camp. They were married from 1936 until his death in 1999. Survivors include four children.
Dr. Schwartz was a 1934 graduate of Barnard College in New York and received a master’s degree (at age 19) and then a doctorate from Columbia University. She first became interested in economics during a course in high school.
She began working at the National Bureau of Economic Research on a project on monetary data in the 1940s before Friedman became involved in 1948, Nelson said.
In collaborating with Friedman, Dr. Schwartz brought “experience in historical research, especially banking history, and her knowledge and compilation of monetary data,” Nelson said. “But when it came to the basic research and writing of the ‘Monetary History,’ there was not a division of labor between Friedman and Schwartz.”
The two economists exchanged drafts of chapters and manuscripts by mail, with Friedman working from his office at the University of Chicago and Dr. Schwartz operating from New York, where most of the statistical work was done.
— Bloomberg News