Quotes by: Paul A. Volcker

Paul Volcker
Chair of the President's Economic Recovery Advisory Board
In office
February 6, 2009 – February 6, 2011
President Barack Obama
Preceded by Position established
Succeeded by Jeff Immelt (Council on Jobs and Competitiveness)
Chair of the Federal Reserve
In office
August 6, 1979 – August 11, 1987
President Jimmy Carter
Ronald Reagan
Deputy Frederick Schultz
Preston Martin
Manley Johnson
Preceded by William Miller
Succeeded by Alan Greenspan
President of the Federal Reserve Bank of New York
In office
May 2, 1975 – August 5, 1979
Preceded by Alfred Hayes
Succeeded by Anthony Solomon
Personal details
Born Paul Adolph Volcker, Jr.
(1927-09-05) September 5, 1927 (age 89)
Cape May, New Jersey, U.S.
Political party Democratic
Spouse(s) Barbara Bahnson (1954–1998)
Anke Dening (2010–present)
Children 2 (with Bahnson)
Alma mater Princeton University
Harvard University
London School of Economics

You could not buy a house in those days without just assuming that the house was not only a place to live, but it was a good investment, because it was going to keep up with inflation or get ahead of inflation, and it was just - that was America.
Paul A. Volcker
It was the biggest inflation and the most sustained inflation that the United States had ever had.
Paul A. Volcker
I am suspicious of the idea of a new paradigm, to use that word, an entirely new structure of the economy.
Paul A. Volcker
Well, by the standards of a lot of countries, by Latin American standards, it wasn't so bad.
Paul A. Volcker
By the time I became chairman and there was more of a feeling of urgency, there was a willingness to accept more forceful measures to try to deal with the inflation.
Paul A. Volcker
Less emphasis on inventories, I think, may tend to dampen business cycles, because business cycles are typically in the grasp of inventory cycles and heavy industry cycles.
Paul A. Volcker
Double-digit inflation is a terrible thing - and it got up to 14 or 15 percent on a monthly basis for a while, shortly after I became chairman of the Fed.
Paul A. Volcker
What's the subject of life - to get rich? All of those fellows out there getting rich could be dancing around the real subject of life.
Paul A. Volcker
When people begin anticipating inflation, it doesn't do you any good anymore, because any benefit of inflation comes from the fact that you do better than you thought you were going to do.
Paul A. Volcker
The speed of communication, the speed of information transfer, the cheapness of communication, the ease of moving things around the world are a difference in kind as well as degree.
Paul A. Volcker

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