Under Secretary of the Treasury for International Affairs (1969 -1974), 12th Chairman of the Federal Reserve (1979 – 1987), Chairman of the Economic Recovery Advisory Board (2009 – 2011)
Ending high inflation level during 1970a and 1980s in the US
Barbara Bahnson (Died 1998)
Wedding Date with Barbara
James (Research assistant)
Paul Adolph Volcker
Alma Louise Volcker
Ruth (1916 – 1991), Louise (1918–1966), Elinor (1922–1923), Virginia Streitfeld (1924–2011)
Teaneck High School
Princeton University (BA), Harvard University (MA). London School of Economics
Body Measurements & Physical Appearance
6 feet 7 inch /201 cm
101 – 120 kg
Awards and Achievements
US Senator John Heinz for Greatest Public Service vy abd Elected Official 1983
Fly-fishing, Reading books,
Paul Volcker Books
Keeping At It: The Quest for Sound Money and Good Government
Good Intentions Corrupted: The Oil for Food Scandal and the Threat to the UN
The rediscovery of the business cycle
Perspectives on the role of a central bank
Public Service: The Quiet Crisis
Report on Dormant Accounts of Victims of Nazi Persecution in Swiss Banks
The triumph of central banking?
The Global Economic Crisis: A Report to the Trilateral Commission
International Monetary Cooperation: Essays in Honor of Henry C. Wallich
Three years later : unfinished business in financial reform
Paul Volcker Quotes
“When people begin anticipating inflation, it doesn’t do you any good anymore, because any benefit of inflation comes from the fact that you do better than you thought you were going to do.”
“Less emphasis on inventories, I think, may tend to dampen business cycles, because business cycles are typically in the grasp of inventory cycles and heavy industry cycles.”
“You could not buy a house in those days without just assuming that the house was not only a place to live, but it was a good investment, because it was going to keep up with inflation or get ahead of inflation, and it was just – that was America”
“I am suspicious of the idea of a new paradigm, to use that word, an entirely new structure of the economy.”
“If you want to be a bank, follow the bank rules. If Goldman Sachs and the others want to do proprietary trading, then they shouldn’t be banks.”
“What’s critical, of course, is that any change protect the core principle: ‘Thou shalt not gamble with the public’s money.’”
Paul Volcker Rule: Paul Volcker Rule is a federal regulation that prevents banks from doing some investment activities to limit them on their hedge funds and private equity dealings. The rule aims to protect people from doing some sorts of speculative investments that would contribute to the 2008 financial crisis.
Is Paul Volcker Jewish?
Although Paul Volcker’s Grandparents are from Germany, it looks like Paul Volcker is not Jewish.
Is Kurt Volcker Related to Paul Volcker?
No, Kurt Volcker and Paul Volcker are not related.