Wallich Quits Fed Board For Reasons of Health: Wallich Resigns From Fed Board
direction of following more expansionary policies. Wallich could always be counted upon to favor a I somewhat tighter policy than the | majority no matter what proposal was on the table, a former colleague said.</br></br>Volcker issued a statement praising Wallich, saying, ÛÏHenry is, first of all, an inflation fighter, deeply committed to the need for currency : and financial stability. That belief | motivated his service on the board, and he brought to that effort a combination of theoretical insight and practical experience rare in any in- I dividual. And all his colleagues came to know him as a man to combine incisiveness and persistence with wit, goodwill and unfailing courtesy.Û</br></br>Wallich underwent surgery last fall for a brain tumor and returned to work in January. His speech was impaired by the operation but sev-See WALLICH, D4, Col. 3</br></br>Henry C. Wallich, a conservative international economist who had long advocated a monetary policy devoted to control of inflation, yesterday resigned from the Federal Reserve Board because of poor health.</br></br>The resignation of Wallich, 72, gives President Reagan an opportunity to have a board made up entirely of his appointees. Reagan already has named four persons to the seven-member board and reappointed Paul A. Volcker to the chairmanship.