Paul A. Volcker
Paul A. Volcker (September 5, 1927 – December 8, 2019) was a globalist economist, former Chair of the Federal Reserve under presidents Carter and Reagan, and Chairman of the President's Economic Recovery Advisory Board for the Obama Administration as the "Economic Czar." A favorite of Dems, Volcker was appointed again in January 2009 to President Obama from the outset of his presidency.
During his time as Federal Reserve chairman (1979-1987), Volcker imposed sky-high interest rates under the theory it would rein in the inflation caused by President Jimmy Carter and the energy crisis of the 1970s. Volcker continued to ratchet up interest rates with doubtful benefit during the first two years of Reagan's presidency, causing losses in the midterm election to the Republican Party in 1982 to the glee of Democrats. When the effect of Reagan's tax cuts kicked in, the economy improved and inflation ultimately subsided, and Reagan himself was reelected in an historic landslide in 1984.
In one of Reagan's appointment mistakes, he reappointed Volcker for a second term as Fed Chairman on August 6, 1983, and Volcker remained in power until August 11, 1987, when Reagan replaced him with the brighter and more conservative Alan Greenspan.
Volcker was a member of the Bilderberg group and the Trilateral Commission, and his promoted globalist policies during his career. He attacked conservative U.S. President Donald Trump in an essay written shortly before he died.
Volcker died on December 8, 2019.
- ↑ Rise of the Czars, FOXNews.com, June 9th, 2009.
- ↑ List of Obama's Czars, GlennBeck.com, August 21, 2009.
- ↑ 3.0 3.1 Adelmann, Bob (December 10, 2019). Former Fed Chairman Paul Volcker Passes Away at 92. The New American. Retrieved December 10, 2019.
- ↑ Coleman, Justine (December 11, 2019). Paul Volcker knocked Trump in essay written before his death. The Hill. Retrieved December 11, 2019.
- ↑ Multiple references:
- Lane, Sylvan (December 9, 2019). Paul Volcker dies at 92. The Hill. Retrieved December 9, 2019.
- Krishan, Nihal (December 9, 2019). Paul Volcker, inflation-fighting former Fed chairman, dies at 92. Washington Examiner. Retrieved December 9, 2019.
- Davidson, Kate; Reddy, Sudeep (December 9, 2019). Paul Volcker, Who Guided U.S. Monetary Policy and Finance for Nearly Three Decades, Is Dead. The Wall Street Journal. Retrieved December 9, 2019.