Paul Volcker is one of the great public servants of this century. During service under six presidents from John F. Kennedy to Ronald Reagan, he has been a major architect of U.S. financial and economic policy. As chairman of the Federal Reserve Board, he was largely responsible for braking the accelerating price inflation that threatened the stability of the economy in the late 1970′s and early 1980′s. His historic achievement laid the foundation for the extended prosperity of the past two decades.
Earlier, as Undersecretary of the Treasury for Monetary Affairs, he designed and carried out the transition from fixed exchange rates to the more flexible system of floating rates that have facilitated trade and global finance since the early 1970′s.
As a policy maker, educator and investment banker, he has won acclaim to match his towering 6-foot, 7-inch stature. Among his many current activities, he serves as Honorary Co-Chair for the World Justice Project, which works to lead a global, multidisciplinary effort to strengthen the rule of law for the development of communities of opportunity and equity.
Frank Newman, chair and chief executive officer of Bankers Trust, said of Volcker on the occasion of his election as a Bankers Trust director: “Few in recent history have had greater influence on the stability and health of the nation’s financial system than Paul Volcker, or earned greater respect from their peers in government service worldwide.”
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