Paul Volcker

Benzinga  Jul 8  Comment 
The U.S. Federal Reserve announced on Thursday that its Board of Governors extended the deadline for financial institutions to comply with the Volcker Rule until July 21, 2017. The Volcker Rule is a section of the Dodd–Frank Wall Street Reform...
Forbes  Jul 8  Comment 
The Board of Governors of the Federal Reserve has extended the deadline for banks to comply with the Volcker Rule for one additional year until July 21, 2017.
Mondo Visione  Jul 7  Comment 
Formalizing its prior commitment to facilitate the orderly implementation of section 619 of the Dodd-Frank Act, commonly known as the Volcker Rule, the Federal Reserve Board on Thursday announced that it will extend until July 21, 2017 the...
MarketWatch  Jul 7  Comment 
The U.S. Federal Reserve said on Thursday that it would extend until July 2017 the deadline for banks to divest ownership in some legacy investments and to end relationships with funds prohibited under the Volcker Rule. The rule, passed as part...
SeekingAlpha  Jul 7  Comment 
Financial Times  May 23  Comment 
The economist’s intellectual influences and early career, and his role in the conclusion of the Bretton Woods monetary system
Financial Times  Apr 8  Comment 
Fed chair backs central bank’s actions in discussion with Volcker, Greenspan and Bernanke
Wall Street Journal  Apr 7  Comment 
Fed Chairwoman Janet Yellen appeared with predecessors Ben Bernanke, Alan Greenspan and Paul Volcker for a panel discussion aimed at students. Topics included the independence of the central bank from politics and the role of monetary policy,...
Benzinga  Apr 7  Comment 
For the first time ever, the four living U.S. Federal Reserve Chairs, Janet Yellen, Ben Bernanke, Alan Greenspan and Paul Volcker, will be appearing together onstage at an event hosted by the International House. The world will be watching closely...
Mondo Visione  Mar 15  Comment 
The Division of Swap Dealer and Intermediary Oversight of the Commodity Futures Trading Commission (CFTC) today announced that certain banking entities subject to Appendix B of Part 75 of the Commission’s regulations should submit their CEO...
Clusterstock  Dec 18  Comment 
By Howard Schneider WASHINGTON (Reuters) - The policy tightening kicked off by the Fed this week promises to be among the longest and slowest of modern times, a crawl forward that may last as long as former fed chair Paul Volcker's legendary...


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Image:PaulVolcker.jpg Paul Adolph Volcker was Federal Reserve Chairman under United States Presidents Jimmy Carter and Ronald Reagan (from August 1979 to August 1987). He is currently chairman of the newly formed Economic Recovery Advisory Board under President Barack Obama[1].

Volcker is credited to have lifted the US economy out of a decade stagflation that sported such negative highlights as 21% interest rates, solid two-digit-inflation and unemployment rates topping 10% after he took over the job from his predecessor G. William Miller.

Latest developments in 2010

After a 22-year semi-retirement Volcker was appointed as head of Economic Recovery Advisory Board under President Barack Obama in early 2009. Volcker, always a staunch advocate of balanced budgets, who told the world as early as 2006 that the USA's deficit spending is unsustainable, landed a surprise victory when US President Barack Obama largely followed his proposals in January 2010 that will (as of January 2009) ban proprietary trading for banks receivinf federal money and essential re-introduce the Glass-Steagall Act that separated investment banks and such taking deposits from 1933 to 1999. It is coming as a surprise that Volcker outgunned Wall Street-pal Treasury Secretary Timothy Geithner who had opted for more lax deals for his Wall Street friends. Whether this means Obama moves from Wall Street to Main Street is up to your mind.

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