Obituary - Robert Perry Black

Robert “Bob” Perry Black passed away peacefully in his sleep on December 5, 2024 at his home at Cedarfield in Richmond, Virginia, two weeks before his 97th birthday.

Bob was born on December 21, 1927 in Hickman, Kentucky, son of Veola Theresa (Moore) Black and Burwell Perry Black. He belonged to First Methodist Church of Hickman and graduated from Hickman High School in 1945.

Bob attended The University of Virginia, where his studies were interrupted for service in the United States Army from 1946-1947. Following his discharge, he returned to The University and earned Bachelor’s, Master’s, and Doctorate degrees in Economics. While at The University, he was a member of Phi Beta Kappa, Beta Gamma Sigma, Alpha Kappi Psi, Raven Society, and Kappa Alpha Order Fraternity.

Aside from a year as an Assistant Professor of Economics at the University of Tennessee, Bob spent his entire working career with the Federal Reserve System. He was the fifth president (1973-1992) of the Federal Reserve Bank of Richmond. He was the first economist to hold that position. In 1978, in his role as president, he urged the Federal Reserve Open Market Committee to take a stronger stance against inflation. He became well known and highly respected for his opinions as an “Inflation Hawk” and was often interviewed about his position on the direction of the U.S. economy.

In addition to his position as bank president, Bob also served on numerous civic committees and boards for local businesses, educational institutions, hospitals and non-profit organizations, including Media General, T. Rowe Price Mutual Funds, Rockingham Publishing, United Way of Greater Richmond, Virginia United Methodist Homes, Health Corporation of Virginia, Winchester Evening Star, Virginia Economic Recovery Commission, Consolidated Healthcare, Center for Advanced Studies of The University of Virginia, Collegiate School, Focus Club, and Historic Richmond Foundation.

Bob also served as a visiting instructor and lecturer at The University of Virginia, University of Richmond, Industrial College of the Armed Forces, National Trust/National Graduate Trust School at Northwestern University, and several other schools of banking. He also authored a number of articles on economics and banking. He was the recipient of numerous honors and awards for leadership, service, and citizenship. After his retirement, his friends established The Robert P. Black Research Professorship of Economics at The University of Virginia in his honor.

Bob was a member of Reveille United Methodist Church for approximately 70 years and served on numerous church committees, as well as leading Reveille’s Boy Scout Troop #744 for ten years. He was a long-time member of The Country Club of Virginia and a past member of the Foundry Golf Club, Kinloch Golf Club, and the Commonwealth Club.

Bob was predeceased by his beloved wife of 68 years, Mary Rives (Ogilvie) Black; his parents, Veola and Perry Black; his sister, Margaret “Peg” Means; and his in-laws, Marie and Eugene Ogilvie. He is survived by his two children and their spouses, Patty and Doak Barnhardt of Charlotte, NC, and Rob and Julie Black of Richmond; his granddaughters, Mary Rives Batchelor and her husband, Andrew, of Charlotte, NC, Claire Barnhardt of New York, NY, Marianne Black of Baltimore, MD, and Sarah Black of Richmond; and his great-granddaughter, Mary Claire Batchelor, of Charlotte, NC. He is also survived by his sister-in-law, Sarah Shelton and her husband, Bob, of Richmond; his nephews, Brian Cockrill of Richmond and John “Jack” Means, Jr, of Washington D.C.; and nieces, Nancy Means of Memphis, Tennessee, Jenny Blackwood of Dallas, Texas, and Lesley M. Pryor of Dallas Texas; and other additional family members.

The family would like to thank the staff of Cedarfield for their kind care and patience over the years.

A memorial service will be held 2 p.m. Friday, January 24th at Reveille United Methodist Church. A private graveside service will be held in Hollywood Cemetery. In lieu of flowers, memorials may be made to Reveille United Methodist Church, 4200 Cary Street Road, Richmond, VA 23221 or the Robert P. Black Research Professorship of Economics at The University of Virginia, P. O. Box 37963, Boone, Iowa 50036 or by calling Cindy Laverra at UVA 434-924-7646. Arrangements are by the Central Chapel of Bennett Funeral Home.