Volcker

[vohl-ker]

noun

1. Paul Adolph, 1927–2019, U.S. economist: Federal Reserve Board chairman 1979–87.

Example Sentences

It fell to Paul Volcker, who became chairman in 1979, to use the Fed’s authority to slay the inflationary beast.

From Los Angeles Times

Volcker drove the Fed’s key rate nearly to 20%, provoking a recession and a sharp rise in unemployment.

From Los Angeles Times

But then Ronald Reagan, who oversaw the “Volcker shock” from a Federal Reserve that escalated interest rates and threw the nation into recession in order to end high levels of inflation, was rewarded with a landslide reelection.

From Slate

Greenberger’s warning about this scenario had been endorsed by no less august a figure than former Federal Reserve Chair Paul Volcker.

From Salon

One result was then-Federal Reserve Board Chair Paul Volcker presiding over an inflation-killing program of interest-rate hikes starting in 1980.

From Seattle Times