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Paul Volcker

Paul Volcker
Paul A. Volcker served two terms as Federal Reserve chairman under Presidents Jimmy Carter and Ronald Reagan. While some of Volcker's policies during that time, including rapid increases in interest rates, were considered unpopular, he is credited with helping tame the United States' inflation problems of the 1970s.

Following his leadership role in the Fed, Volcker had been tapped in 2004 to research possible corruption in the United Nations Oil for Food Program. Volcker's latest appointment comes as chairman of the President's Economic Recovery Advisory Board under President-elect Barack Obama.

Born in 1927 in Cape May, N.J., Volcker earned a bachelor's degree from Princet...
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Paul A. Volcker served two terms as Federal Reserve chairman under Presidents Jimmy Carter and Ronald Reagan. While some of Volcker's policies during that time, including rapid increases in interest rates, were considered unpopular, he is credited with helping tame the United States' inflation problems of the 1970s.

Following his leadership role in the Fed, Volcker had been tapped in 2004 to research possible corruption in the United Nations Oil for Food Program. Volcker's latest appointment comes as chairman of the President's Economic Recovery Advisory Board under President-elect Barack Obama.

Born in 1927 in Cape May, N.J., Volcker earned a bachelor's degree from Princeton and a master's from the Harvard University Graduate School of Public Administration. Before leading the Federal Reserve, he served as chairman of the Federal Reserve Bank of New York.
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Top Paul Volcker Articles

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  • GOP lawmakers accuse Yellen of playing politics

    Federal Reserve Chair Janet Yellen came under fire Wednesday from House Republicans, who challenged the central bank's lack of accountability during her second day of testimony to Congress. After she gave her semiannual economic report, GOP lawmakers...
  • Mortgage rates defy experts to close year below 4%, Freddie Mac says

    Mortgage rates defy experts to close year below 4%, Freddie Mac says
    Closing out a year of surprisingly low mortgage interest rates, the average rate for a conventional 30-year home loan was 3.87% this week, Freddie Mac said, up slightly from 3.83% a week ago. The home-financing giant reported that the 30-year rate...
  • Five myths about Obama's closest aide

    Five myths about Obama's closest aide
    Valerie Jarrett is the most talked-about White House aide in Washington — and that's not always a good thing. Jarrett has come under attack after the midterm elections, with critics charging that she wields too much influence over her boss. Part of...
  • Nancy Teeters dies at 84; first woman on Federal Reserve board

    Nancy Teeters dies at 84; first woman on Federal Reserve board
    Nancy Teeters, who in 1978 became the first woman on the Federal Reserve board of governors, then continued to stand out by opposing Fed Chairman Paul Volcker's anti-inflation campaign, has died. She was 84. Teeters died Nov. 17 at an assisted living...
  • Studio 54 -- the era, the memories, return

    "AMERICA IS the only country that went from barbarism to decadence without civilization in between." -- Oscar Wilde SPEAKING OF decadence, that word has been used and overused, but perhaps not without cause in the fabulous 1970s. From 1973 to 1983,...
  • Shriver raises $1 million, Kuehl only half that in supervisors race

    Shriver raises $1 million, Kuehl only half that in supervisors race
    Former Santa Monica Mayor Bobby Shriver has raised nearly twice as much money -- a little more than $1 million -- than former state lawmaker Sheila Kuehl in the Nov. 4 election campaign to replace retiring Los Angeles County Supervisor Zev Yaroslavsky....
  • Bobby Shriver's ties that bind

    Bobby Shriver's ties that bind
    Kennedy memorabilia is scattered around Bobby Shriver's campaign headquarters. On one wall hangs a photo of a giant Robert F. Kennedy mural, on another the signed text of Sen. Edward M. Kennedy's 1980 speech to the Democratic National Convention: "To...
  • In L.A. County supervisor campaigns, spending is likely to soar

    In L.A. County supervisor campaigns, spending is likely to soar
    Candidates competing for two rare open seats on the Los Angeles County Board of Supervisors have raised a combined $4.6 million in advance of Tuesday's primary election, and analysts say spending will likely spiral much higher in coming months, as at...
  • Big U.S. banks keeping door open to another financial crisis

    There are two ways to think about how far we've come in protecting against a repeat of the financial meltdown five years ago that plunged the world into recession. You can conclude that we've pretty much eradicated the risk of another such crisis. That'...
  • Movie review: 'Money for Nothing' a worrying look at Federal Reserve

    Movie review: 'Money for Nothing' a worrying look at Federal Reserve
    Pegged to the 2008-09 Great Recession, "Money for Nothing: Inside the Federal Reserve" is a disconcerting documentary on the central bank's influence over America's past and present economic crises. After breezing through a crash course on the Fed's...
  • Reel Critics: 'Money for Nothing' worth the price

    Reel Critics: 'Money for Nothing' worth the price
    Only a documentary about the Federal Reserve could have the real luminaries of the system as the stars of the film. Alan Greenspan, Ben Bernanke, Paul Volcker and a host of Treasury officials appear as themselves in "Money for Nothing: Inside the...