He received a bachelor's degree in Economics from the University of Pennsylvania's Wharton School in 1936, writing a senior thesis on "The relation between the central bank, member banks and the money market."
Ia menerima gelar sarjana dalam Ekonomi dari Wharton School University of Pennsylvania pada tahun 1936, menulis tesis senior tentang "Hubungan antara bank sentral, bank anggota dan pasar uang ."