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A Texas banker was rumored as a Fed candidate.

April 23, 1986

The Reagan Administration had no comment on a published report that it was close to deciding to nominate a Texas bank official to a vacant seat on the Federal Reserve Board. The New York Times, quoting unnamed White House sources, reported that President Reagan was expected to nominate William Gibson, senior vice president at Republicbank Corp. of Dallas, to the central bank to replace Preston Martin. Martin, the board's vice chairman, resigned last month. Gibson, 42, has been Republicbank's chief economist since 1981.

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