Financial reform could be signed by July 4

Financial reform could be signed by July 4

WASHINGTON, June 26 (UPI) -- U.S. President Barack Obama could sign sweeping financial reform legislation by July 4, the White House said.
Volcker suggests deficit-cutting taxes

Volcker suggests deficit-cutting taxes

NEW YORK, April 7 (UPI) -- Presidential adviser Paul Volcker, a former Federal Reserve chairman, said budget deficits may force the United States to raise taxes.

White House firm on key reform proposals

WASHINGTON, Feb. 23 (UPI) -- White House Press Secretary Robert Gibbs said President Barack Obama is committed to forming a financial protection agency for U.S. consumers.
The new rule

The new rule

A man seemingly ignored by Washington took center stage in the regulatory reform debate Tuesday, discussing a rule that bears his name -- the Volcker rule.
ANTHONY HALL, United Press International

Volcker pushes to rein in banking

WASHINGTON, Feb. 2 (UPI) -- Presidential adviser Paul Volcker told members of the Senate Banking Committee the U.S. public did not believe in rescuing speculative banks.

Volcker: Stop big bank risk-taking

WASHINGTON, Jan. 31 (UPI) -- Reforms are needed urgently to bar big commercial banks from engaging in risky investments and trading, a top White House adviser says.
Senate confirms Bernanke for second term

Senate confirms Bernanke for second term

WASHINGTON, Jan. 28 (UPI) -- The U.S. Senate confirmed Ben Bernanke's second term as head of the Federal Reserve Bank Thursday by a 70-30 vote margin, a slim victory for a bank chairman.
Volcker pushes for separate banks

Volcker pushes for separate banks

WASHINGTON, Oct. 21 (UPI) -- Former Federal Reserve Chairman Paul Volcker said he espouses a banking system that separates commercial and investment banking.
Volcker's role still uncertain

Volcker's role still uncertain

WASHINGTON, May 20 (UPI) -- Former Federal Reserve Chairman Paul Volcker's role as a presidential adviser appears uncertain, observers of Obama administration economic policy said.

Group of 30 unveils bank regulation plans

WASHINGTON, Jan. 15 (UPI) -- An international economists group led by a U.S. adviser to President-elect Barack Obama unveiled Thursday a plan to extensively overhaul banking regulations.

Volcker: U.S. 'addicted to spending'

WASHINGTON, Dec. 8 (UPI) -- Paul Volcker, U.S. President-elect Barack Obama's special economic adviser, says Americans have been living above their means for too long.
Obama creating new economic panel

Obama creating new economic panel

CHICAGO, Nov. 26 (UPI) -- U.S. President-elect Barack Obama named Paul Volcker and Austan Goolsbee to a new President's Economic Advisory Board.

Obama attacks McCain on economy

LAKE WORTH, Fla., Oct. 21 (UPI) -- Presidential contender Barack Obama presided over a session on the economy Tuesday in Florida, joined by four Democratic governors from swing states.

Analysis: McCain right on offshore oil

WASHINGTON, June 18 (UPI) -- Sen. John McCain passed UPI's Oil 101 this week with his gutsy call for extending offshore drilling around the United States. Sen. Barack Obama didn't, for betting the house on "clean" energy technologies that don't even exist yet.

Analysis: How Edwards boosts Obama

WASHINGTON, May 15 (UPI) -- John Edwards' endorsement of Sen. Barack Obama won't help the Democrats' front-runner with the white working class, but it marks a major step in the coalescing of the party's establishment elite around Obama, further isolating Hillary Clinton.
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Paul Volcker
Paul Volcker, chairman of the President's Economic Recovery Advisory Board testifies before the Senate Banking Committee hearing on ways to modernize the U.S. financial regulatory system on Capitol Hill in Washington on February 4, 2009. UPI/Roger L. Wollenberg

Paul Adolph Volcker, Jr. (born September 5, 1927) is an American economist. He was the Chairman of the Federal Reserve under United States Presidents Jimmy Carter and Ronald Reagan from August 1979 to August 1987. He is widely credited with ending the high levels of inflation seen in the United States in the 1970s and early 1980s. He was the Chairman of the Economic Recovery Advisory Board under President Barack Obama from February 2009 until January 2011.

Volcker was born in Cape May, New Jersey, the son of Alma Louise (née Klippel) and Paul Adolph Volcker. His grandparents were all German immigrants. Volcker grew up in Teaneck, New Jersey, where his father was the township's first municipal manager. As a child, he attended his mother's Lutheran church, while his father went to an Episcopal church. Volcker graduated from Teaneck High School.

Volcker's undergraduate education was at Princeton University; he graduated in 1949. He earned his M.A. in political economy from Harvard University's Graduate School of Arts and Sciences and Graduate School of Public Administration in 1951 and then attended the London School of Economics from 1951 to 1952 as a Rotary Foundation Ambassadorial Fellow, under the Rotary's Ambassadorial Scholarships program.

This article is licensed under the GNU Free Documentation License.
It uses material from the Wikipedia article "Paul Volcker."
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