He was a partner at the Kansas City firm Fallon, Guffey and Jenkins.[2] He was named the general counsel for the Kansas City Federal Reserve in 1968[1] after being recruited to do so by then Kansas City Federal Reserve Bank President George H. Clay.[2] In 1973, he became senior vice president of the Administrative Services Division[1] and became president of the bank on March 1, 1976.[3] Guffey was a member of the Federal Open Market Committee in October 1979.[4]
Among Guffey's contributions was starting the Bank's Jackson Hole, Wyoming, Symposium which began as an agricultural symposium in 1978 but had become broader when it moved to Jackson Hole in 1982.[5]
Retirement
Guffey retired in September 1991.[2] A theatre at the bank's 1 Memorial Drive building is named for him.[3]
Publications
Guffey wrote several articles for the Economic Review:
Regulation Tomorrow: Toward a New Framework for Competition[6]
The Federal Reserve's Role in Promoting Economic Growth[7]
After Deregulation: The Regulatory Role of the Federal Reserve[8]