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THE WHITE HOUSE

Office of the Press Secretary

For Immediate Release December 7, 1998

                 PRESIDENT CLINTON NAMES EDWIN M. TRUMAN 
             AS ASSISTANT SECRETARY FOR INTERNATIONAL AFFAIRS 
                    AT THE DEPARTMENT OF THE TREASURY

The President today announced the recess appointment of Edwin M. Truman to be Assistant Secretary of the Treasury for International Affairs. Mr. Truman was nominated on October 8, 1998. The President intends to resubmit his nomination when the 106th Congress convenes.

Mr. Edwin M. Truman, of Chevy Chase, Maryland, served as the staff director of the Division of International Finance of the Board of Governors of the Federal Reserve System, a position he held from 1987 to 1998. Prior to that, he was director of the Division from 1977-1987. Since 1983, Truman also has served as one of three economists on the staff of the Federal Open Market Committee. He has been a member of numerous international groups working on international economic and financial issues, including the G-10 sponsored Working Party on Financial Stability in Emerging Market and Economies and the G-10 Working Group on the Resolution of Sovereign Liquidity Crisis.

Mr. Truman is a former associate professor of economics at Yale University, where he received his M.A. in 1964 and his Pd.D. in Economics in 1967. He received his B.A. from Amherst College in 1963, and a L.L.D.(hon.) from Amherst College in 1988.

The Assistant Secretary for International Affairs advises and assists the Secretary, Deputy Secretary and Under Secretary for International Affairs in the formulation and execution of U.S. international economic policy. Specifically, this office is responsible for developing and executing U.S. policy in the areas of international economic and financial diplomacy; international monetary policy issues, including exchange rate policy; economic policy cooperation among industrial nations (G-7); U.S. participation in the international financial institutions; financial services negotiations and policy issues affecting international financial markets; and international trade and investment policy. The Assistant Secretary for International Affairs plays a key role in maintaining financial market stability.

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