Paul A. Volcker

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Paul A. Volcker is an economist, former Chair of the Federal Reserve under presidents Carter and Reagan, and currently Chairman of the President's Economic Recovery Advisory Board for the Obama Administration as the "Economic Czar."[1] Volcker was appointed in January 2009, and reports to President Obama.[2] He is in charge of offering independent, nonpartisan information, analysis, and advice to the President as he formulates and implements his plans for economic recovery.

Previous experience

During his time as Federal Reserve chairman (1979-1987), he imposed high interest rates that solved the economic crisis that ruined Carter and gave Reagan a major challenge. Volcker is generally regarded as a moderate in economic matters, with strong support from business.


  1. Rise of the Czars,, June 9th, 2009.
  2. List of Obama's Czars,, August 21, 2009.