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'''Paul A. Volcker''' (September 5, 1927 – December 8, 2019) was a [[globalist]] [[economist]], former Chair of the [[Federal Reserve]] under presidents [[Jimmy Carter|Carter]] and [[Ronald Reagan|Reagan]], and Chairman of the President's Economic Recovery Advisory Board for the [[Obama Administration]] as the "Economic Czar."<ref>[http://glennbeck.blogs.foxnews.com/2009/06/09/rise-of-the-czars/ Rise of the Czars], FOXNews.com, June 9th, 2009.</ref> A favorite of [[Dem]]s, Volcker was appointed again in January 2009 to [[President Obama]] from the outset of his presidency.<ref name=GB>[http://www.glennbeck.com/content/articles/article/198/29391/ List of Obama's Czars], GlennBeck.com, August 21, 2009.</ref>

'''Paul A. Volcker''' (September 5, 1927 – December 8, 2019) was a [[globalist]] [[economist]], former Chair of the [[Federal Reserve]] under presidents [[Jimmy Carter|Carter]] and [[Ronald Reagan|Reagan]], and Chairman of the President's Economic Recovery Advisory Board for the [[Obama Administration]] as the "Economic Czar."<ref>[http://glennbeck.blogs.foxnews.com/2009/06/09/rise-of-the-czars/ Rise of the Czars], FOXNews.com, June 9th, 2009.</ref> A favorite of [[Dem]]s, Volcker was appointed again in January 2009 to [[President Obama]] from the outset of his presidency.<ref name=GB>[http://www.glennbeck.com/content/articles/article/198/29391/ List of Obama's Czars], GlennBeck.com, August 21, 2009.</ref>

During his time as Federal Reserve chairman (1979-1987), Volcker imposed sky-high [[interest rate]]s 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 [[Democrat]]s. 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.

During his time as Federal Reserve chairman (1979–1987), Volcker imposed sky-high [[interest rate]]s 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 [[Democrat]]s. 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]].  

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]].