Paul A. Volcker, who helped shape American economic policy for more than six decades, most notably by leading the Federal Reserve’s brute-force campaign to subdue inflation in the late 1970s and early ’80s, died on Sunday in New York. He was 92.
Mr. Volcker, a towering, taciturn and somewhat rumpled figure, arrived in Washington as America’s postwar economic hegemony was beginning to crumble. He would devote his professional life to wrestling with the consequences.
As a Treasury Department official under Presidents John F. Kennedy, Lyndon B. Johnson and Richard M. Nixon, Mr. Volcker waged a long, losing struggle to preserve the postwar international monetary system established by the Bretton Woods agreement.
BREAKING: Paul Volcker, the former head of the Federal Reserve who helped shape American economic policy for more than six decades, has died at 92 https://t.co/sEizvjqgwV
— NYT Obituaries (@NYTObits) December 9, 2019
— Dow (@mark_dow) December 9, 2019
In the early 1980s, Fed chairman Paul Volcker launched the decisive battle of the twentieth century’s class war. We’ve been living in his world ever since. https://t.co/Pp6g2vEzR6
— Jacobin (@jacobinmag) December 9, 2019
Paul Volcker, the towering Fed Chairman and economist, has died at age 92 https://t.co/jUn7qMDyKP
— Business Insider (@businessinsider) December 9, 2019