Paul Volcker

(redirected from Paul Vocker)

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.
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References in periodicals archive ?
Participants include Jose Manuel Barroso, president of the European Commission, American economist Joseph Stieglitz and former chairman of the US Federal Reserve Paul Vocker.
Sharon Bowles (ALDE, UK), head of the Committee on Economic and Monetary Affairs (ECON), said the move was like a "mini Volcker rule," referring to the US economist Paul Vocker's plan to stem speculative trading.