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9 unusual facts about Paul Volcker


Estate tax in the United States

William H. Gates, Sr. and Chuck Collins, with foreword by former Federal Reserve Chairman Paul Volcker, Wealth and Our Commonwealth: Why America Should Tax Accumulated Fortunes, Beacon Press (2003)

José Berrocal

Subsequent to his stint in government, Berrocal became managing director of Wolfensohn (later acquired by Bankers Trust, then Deutsche Bank, where he worked closely with Federal Reserve Bank chairman Paul Volcker.

K. Natwar Singh

The Independent Inquiry Committee under Paul Volcker had reported on October 27, 2005 that he and his son Jagat Singh were non-contractual beneficiaries of the Oil for Food programme.

Mexican oil boom

When the world economy was hard hit by the interest rates hike from Paul Volcker in 1982 to stop inflation in the United States, those highly indebted nations like Mexico, which invested heavily to develop its field, were in crisis.

Paul Volcker

In 1962, Robert Roosa, who had been his mentor at the Federal Reserve, hired him at the Treasury Department as director of financial analysis.

In the report summarizing its research, Volcker criticized Kojo Annan, son of then-UN Secretary-General Kofi Annan, and the Swiss company Cotecna Inspection SA, Kojo's employer, for trying to conceal their relationship.

Pilgrims Society

Over the years it has boasted an elite membership of politicians, diplomats, businessmen, and writers who have included Henry Kissinger, Margaret Thatcher, Caspar Weinberger, Douglas Fairbanks Jr., Henry Luce, Lord Carrington, Alexander Haig, Paul Volcker, Tom Kean and Walter Cronkite to mention a very few.

Plaza Accord

The U.S. Federal Reserve System under Paul Volcker had halted the stagflation crisis of the 1970s by raising interest rates, but this resulted in the dollar becoming overvalued to the extent that it made industry in the U.S. (particularly the automobile industry) less competitive in the global market.

Systemic bias

Even Federal reserve chairmen get bullied and have their faces slapped if they stick to their guns, which will, not surprisingly, be rare since everyone values his career or does not want to be replaced à la Mr. Volcker.


Anatole Kaletsky

In 2012, Kaletsky was appointed Chairman of the Institute for New Economic Thinking, a foundation established after the 2008 financial crisis with $200m of grants from George Soros, Paul Volcker, William Janeway, Jim Balsillie and other leading financiers.

Maryam Nemazee

She has interviewed some of the world's top political and business leaders, including: the former Chairman of the Federal Reserve Paul Volcker, OPEC Secretary-General Abdallah Salem el-Badri, and IMF Managing Director Christine Lagarde.

Suzanne Garment

She has served as a visiting scholar at the Indiana University Center on Philanthropy at Indiana University; special counsel to Richard Ravitch, New York Lieutenant Governor and as counsel to the Task Force on the State Budget Crisis, co-chaired by Ravitch and former Federal Reserve chairman Paul Volcker.


see also