George Budzeika  May 19 1921

George Budzeika May 19 1921 May 5 2020

May 19 1921 May 5 2020
Obituary George Budzeika, PhD, longtime senior economist with the Federal Reserve Bank of New York, passed away Tuesday May 5, 2020 at age 98. He died at his home in Arlington Heights. George was born on May 19, 1921 in Vilnius, Lithuania to Ignas and Wladyslawa Budzeika. His parents stressed education to their children as a means to realize a full and enlightened life. The Budzeika children did very well in school, and George was at the top of his class on a regular basis. George and his family endured many hardships during World War II, with George wishing to continue his studies in his home country. That became increasingly impossible during the Nazi and later, Russian occupations. Along with his brother Vytautas, George narrowly escaped capture as they fled their homeland and traveled across Eastern Europe using only their wits, in the closing days of the war. George landed in Innsbruck, Austria and his brother Vytautas found himself in Germany. Amidst the chaos of postwar Europe, George continued his studies in economics, and achieved a masters level degree from the University of Innsbruck in 1947 while his brother studied medicine. George found work as an accountant for an agency of the United Nations and supported his brother’s medical school career until its completion in 1949. After the war, the two brothers emigrated to the US. Vytautas settled in Arlington Heights while George stayed on the East Coast. George took a series of professional positions until landing his dream job as economist with the prestigious Federal Reserve Bank of New York in 1957. The bank supported his work to complete his education, realized with a PhD in economics at New York University in 1969 – a doctorate awarded with special honors for its impact on the field. With that, he was promoted to Senior Economist at the bank, where he worked for almost 40 years, retiring in 1995. Along the way, he published widely and provided key guidance to the bank’s Board of Governors, including a number of Federal Reserve chairs. For George, it was always important that he meaningfully contributed to his adopted country. George spent his later years in Arlington Heights, moving to Luther Village to be close to his niece Karen Slora (and her family). George and his extended American family spent many happy hours together. He spoke lovingly of his Lithuanian family, now in Poland, whom he visited often. And he spoke often about the dangerous and ultimately successful wartime journey that allowed George and his beloved brother Vytautas to pursue their American dreams. Survivors include his nieces Karen Slora, PhD (husband Eric Slora, PhD), Anna Kobrzak, Malgorzata Poszumska (husband Pawel Poszumski), nephew Jerzy Labanowski, PhD (wife Maria Labanowska, DDS) as well as many grandnieces and grandnephews. He was preceded in death by his cherished siblings – his twin sister Alice Labanowska, sister Victoria, and brother Vytautas. For those wishing to send the family an expression of condolence, memorials directed to Cooperative for Assistance and Relief Everywhere (CARE USA), PO Box 1870, Merrifield, VA 22116, would be most appreciated. Funeral services for Mr. Budzeika will be steamed live at: www.hdezwebcast.com/show/george-budzeika Events There are no events scheduled. Memorial Contributions Cooperative for Assistance and Relief Everywhere (CARE USA), Cooperative for Assistance and Relief Everywhere (CARE USA) P.O. Box 1870 Merrifield, VA 22116

Our most sincere sympathies to the family and friends of George Budzeika May 19 1921 May 5 2020.

Glueckert Funeral Home Ltd

Death notice for the town of: Arlington Heights, state: Illinois

death notice George Budzeika May 19 1921 May 5 2020

obituary notice George Budzeika May 19 1921 May 5 2020

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