Paul Volcker

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Paul Volcker

An American economist and Chairman of the Federal Reserve from 1979 to 1987. He was credited with ending the high inflation seen in the 1970s. He raised the fed funds rate as high as 20%. This is considered to have contributed to a recession in the early 1980s. However, inflation dropped from 13.5% in 1981 to 3.2% in 1983. He was born in 1927. See also: Stagflation.
References in periodicals archive ?
While the first phase of the IASC's restructuring moves forward--the new group of trustees met for the first time in June under the chairmanship of Paul A.
The report was compiled by the Independent Committee of Eminent Persons, formed in 1996 by Swiss Bankers and Jewish groups and chaired by former US Federal Reserve Chairman, Paul A.
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Siebert's award will be presented by the Honorable Paul A.
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20 /PRNewswire/ -- The Public Securities Association will present its 1992 Distinguished Public Service awards to former Federal Reserve Chairman Paul A.