Paul Volcker

American economist (1927-2019)

Paul Adolph Volcker, Jr.[1] (September 5, 1927 – December 8, 2019) was an American economist. He was Chair of the Federal Reserve under Presidents Jimmy Carter and Ronald Reagan from August 1979 to August 1987.

Paul Volcker
Chairperson of the President's Economic Recovery Advisory Board
In office
February 2009 – January 2011
PresidentBarack Obama
Preceded byNone—Founding Appointee
Succeeded byJeff Immelt (Council on Jobs and Competitiveness)
12th Chairman of the Federal Reserve
In office
August 6, 1979 – August 11, 1987
PresidentJimmy Carter
Ronald Reagan
Preceded byWilliam Miller
Succeeded byAlan Greenspan
5th President of the Federal Reserve Bank of New York
In office
May 2, 1975 – August 5, 1979
Preceded byAlfred Hayes
Succeeded byAnthony Solomon
Personal details
Paul Adolph Volcker, Jr.

(1927-09-05)September 5, 1927
Cape May, New Jersey, U.S.
DiedDecember 8, 2019(2019-12-08) (aged 92)
New York City, U.S.
Political partyDemocratic Party
Spouse(s)Barbara Bahnson (m. 1954–1998; her death; 2 children)
Anke Dening (m. 2010–2019; his death)
Alma materPrinceton University
Harvard University
London School of Economics

He was widely credited with ending the high levels of inflation seen in the United States during the 1970s and early 1980s. He was the chairman of the Economic Recovery Advisory Board under Barack Obama from February 2009[2] until January 2011.[3]

In 2018, Volcker was diagnosed with prostate cancer. He died on December 8, 2019 in New York City, aged 92.[4]


  1. Rebello, Kathy (June 3, 1987). "Inflation fighter: 'A time to leave'". USA TODAY. Archived from the original on November 14, 2012. Retrieved September 25, 2015.
  2. "Obama Announces Economic Advisory Board". Retrieved 2011-03-12.
  3. "Obama Names Volcker to Head New Economic Panel" [1], Accessed November 26, 2008.
  4. Appelbaum, Binyin; Hershey, Robert D. Jr. (December 9, 2019). "Paul A. Volcker, Fed Chairman Who Waged War on Inflation, Is Dead at 92". The New York Times. Retrieved December 9, 2019.