Paul Volcker
Subtitle: the triumph of persistence
By: William L. Silber
Edition: 1st u.s. ed.
Publisher: Bloomsbury Press
Published: 2012
Place of publication: New York
Language: eng
Number of pages: 454
ISBN-13: 9781608190706
Subjects: Monetary policy; Economists; Economic policy; Officials and employees; Board of Governors of the Federal Reserve System (U.S.); Biography; History
Description: Over the course of nearly half a century, five American presidents--three Democrats and two Republicans--have relied on the financial acumen, and the integrity, of Paul A. Volcker. During his tenure as chairman of the Federal Reserve Board, when he battled the Great Inflation of the 1970s, Volcker did nothing less than restore the reputation of an American financial system on the verge of collapse. After the 2008 financial meltdown, the nation turned again to Volcker to restore trust. Volcker's career demonstrated that a determined central banker can prevail over economic turmoil--so long as he can resist relentless political pressure. His resolve and independent thinking--sorely tested by Richard Nixon, Jimmy Carter, and Ronald Reagan--laid the foundation for a generation of economic stability. Indeed, William L. Silber argues, it was only Volcker's toughness on monetary policy that "forced Reagan to be Reagan" and to rein in America's deficit.--From publisher description.
Notes: Includes bibliographical references and index.