Volcker, Paul Adolph

The Columbia Encyclopedia, 6th ed.

Volcker, Paul Adolph

Paul Adolph Volcker, 1927–, American economist, government official, and banker, b. Cape May, N.J. After working as an under secretary in the Treasury Department (1969–74) and as president of the New York Federal Reserve Bank (1975–79), he was appointed the chairman of the Board of Governors of the Federal Reserve System in 1979. He pursued a restrictive monetary policy to combat inflation but was forced by a stagnant economy and high unemployment to support increased monetary growth during the mid-1980s. Volcker was succeeded as Federal Reserve Board chairman by Alan Greenspan in 1987. He subsequently was successful as an investment banker, retiring in 1996.

In 1999 an official panel he headed that investigated Swiss banks' handling of the accounts of Holocaust victims issued a report that was critical of the banks but did not recommend any changes in a settlement reached in 1998 (see Holocaust). Volcker was chairman of the International Accounting Standards Committee Foundation from 2000 to 2006 and, in the wake of the Enron bankruptcy, headed (2002) an independent oversight board at Arthur Andersen, the accounting firm that was responsible for auditing Enron. He also chaired (2004–5) the UN's investigation into wrongdoing in the UN oil-for-food program for Iraq. In 2009 President Barack Obama appointed Volcker as the head of the new Economy Recovery Advisory Board. Volcker is the author, with Toyoo Gyohten, of Changing Fortunes: The World's Money and the Threat to American Leadership (1992).

See biography by J. B. Treaster (2004); biography of his professional life by W. L. Silber (2012); study by W. Greider (1988).

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Volcker, Paul Adolph
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.