Alumni Profile

Paul Volcker, AB 1949
Paul Volcker
Former Chairman, Federal Reserve Bank
AB, Class of 1949

Economist Paul Volcker is perhaps best known for helping to end the country's stagflation crisis during his time as chairman of the Federal Reserve under Presidents Jimmy Carter and Ronald Reagan.  A vocal proponent of international solutions to economic problems and of stronger government regulation of banks, he chaired President Barack Obama's Economic Recovery Advisory Board from February 2009 until January 2011.  Other highlights of his long career include several senior positions in the U.S. Treasury Department, presidency of the Federal Reserve Bank of New York, Chairman of the Trilateral Commission, and the Group of Thirty.  Volcker has also negotiated an agreement between the Jewish community and Swiss banks about the disposition of funds of Holocaust victims placed with Swiss Banks.  He more recently investigated corruption in the United Nations' Iraqi Oil-for-Food Program and proposed more effective anti-corruption policies for World Bank programs.  He was educated at Princeton, Harvard and the London School of Economics.