Raymond Lombra

Raymond Eugene "Ray" Lombra (born 1946 in Hamden, Connecticut)

Career Lombra worked as a senior staff economist at the Board of Governors of the Federal Reserve System before joining the faculty at Penn State in 1977. He became Penn State's associate dean in 1992. He has also said that eliminating the penny would have especially adverse effects on people without checking accounts. He later elaborated on these claims in a 2001 paper he published in the Eastern Economic Journal which stated that the direct and indirect effects of eliminating the penny would be “no less than $1.5 billion over five years and $2.5 billion over a decade”.

Personal life Lombra and his wife, Bobbi, enjoy drinking fine wine and filling the resulting empty bottles with pennies.