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 ?
htm) Volcker Rule ," named for the economist and former Federal Reserve Chairman Paul Volcker, which forces insured depository banks to separate their proprietary trading from consumer banking activities, essentially keeping them from acting like - and working with - hedge funds and private equity firms.
Named after former Fed Chair Paul Volcker, it was designed to prevent banks from doing risky trading with their own funds.
The Richmond Feds latest Economic Brief challenges the standard narrative of the causes of the disinflation that occurred under former Federal Reserve Chairman Paul Volcker.
Her statement came at an event held at the International House in New York, side by side with former Federal Reserve Chairs Ben Bernanke, Alan Greenspan and Paul Volcker.
Recently, I had the pleasure of an extended lunch with one of my all-time heroes, Paul Volcker, former Fed chairman (1979-1987) and the first chair of the Economic Recovery Advisory Board (2009-2011).
He was a member of the President's Council of Economic Advisers (1977-1980) and was nominated for membership on the Federal Reserve Board by President Jimmy Carter, serving under Chairman Paul Volcker (1980-1985).
Baldwin joined industry heavyweights including IMF Managing Director Christine Lagarde, former Federal Reserve Chairmen Paul Volcker and Ben Bernanke, and United Nations Secretary General Ban Ki-Moon.
The report, issued by The Volcker Alliance, a public policy organization headed by former Federal Reserve Chairman Paul Volcker, also stated the Securities and Exchange Commission and the Commodity Futures Trading Commission would merge; an overarching Prudential Supervisory Authority closely tied to the Federal Reserve would be created; and the Federal Stability Oversight Council would establish a Systemic Issues Committee.
In Krugman's telling, all credit belongs to Paul Volcker, then chairman of the Federal Reserve Board.
The rule, named for former Federal chairman Paul Volcker, imposed the restrictions in response to the 2008 credit crisis.
Nominated in October by President Barack Obama, Yellen will be the first Fed chair picked by a Democrat since President Jimmy Carter chose Paul Volcker.
In a Fed cartoon prepared for high school students, Paul Volcker is lovingly portrayed as a superhero wearing a red cape.