Paul Volcker

Picture of Paul Volcker

Date of Birth: 09/05/1927

Age: 89

Place of birth: Cape May

Citizenship: United States

The Economist, Federal Reserve Bank of New York

Paul Volcker, the son of Alma Louise Walker (Alma Louise Volcker) and Paul Adolph Volcker, was born on September 5, 1927 in Cape May, New Jersey (Cape May, New Jersey). He grew up in Teaneck, New Jersey (Teaneck, New Jersey), where his father was the first city manager township. As a child he attended a Lutheran church mother, while the father was a parishioner of the Episcopal Church. After graduating from school Teaneck (Teaneck High School), Walker became a student at Princeton University (Princeton University), received a bachelor`s degree in 1949. Master`s degree in political economy it received in 1951 from Harvard University (Harvard University), after studying at the Graduate School of Arts and Sciences (Graduate School of Arts and Sciences), as well as the Harvard Institute of Public Administration (Graduate School of Public Administration), has not yet which received at the time the name of John F. Kennedy (the John F. Kennedy School of Government). From 1951 to 1952, Walker, poluchivstipendiyu special program `Ambassadorial Scholarships` from the organization` Rotary Foundation`, continued his studies at the London School of Economics (London School of Economics).

In 1952 Walker became an economist, Federal Reserve Bank of New York (Federal Reserve Bank of New York) and in 1957 moved to the `Chase Manhattan Bank`. Four years later, in 1962, the economist and banker Robert Roosa (Robert Roosa), who was his mentor at the Federal Reserve, lured Walker to the US Treasury Department (United States Department of the Treasury) as director of financial analysis. In 1963, he became Assistant Deputy Minister of Finance on Monetary Affairs and in 1965 returned to the `Chase Manhattan Bank` as vice president and planning director.

From 1969 to 1974, Walker served as Deputy Minister of Finance for International Monetary Affairs. He played an important role in decision-making that led to the suspension of gold convertibility of the US in 1971 that ended with the collapse of the Bretton Woods system (Bretton Woods system). In general, he acted as a restraining influence on the system, advocating for an international solution of currency problems. In 1975, Walker also became a senior research fellow at the School of Public and International Affairs Woodrow Wilson (The Woodrow Wilson School of Public and International Affairs) at Princeton University. After leaving the Treasury Walker from 1975 to 1979 he served as president of the Federal Reserve Bank of New York, and left his post in August 1979 to become chairman of the Federal Reserve System. In 1987, after leaving the Fed, Volcker became chairman of the renowned New York-based investment bank `J. Rothschild, Wolfensohn & Co`.

Paul Volcker has been awarded honorary doctorates from many of the United States educational institutions, including Hamilton College (Hamilton College), Princeton University, Dartmoor College (Dartmouth College), New York University (New York University), Northwestern University (Northwestern University ) Rensselira Polytechnic Institute (Rensselaer Polytechnic Institute), Brown University (Brown University), Georgetown University (Georgetown University), Canadian University Queens (Queen`s University) and Amherst College (Amherst College).

In September 1954, Walker married Barbara Banzon (Barbara Bahnson), and they had two children - a daughter of Janice (Janice), graduated from Georgetown University, and became a nurse and his son James, researcher, who studied at New York University. Volcker`s wife died in 1998, and in 2010 he married Anke Dening (Anke Dening), his long-time assistant. Walker - an avid fisherman, who even managed to spend their honeymoon on a fishing trip. For tall (201 cm), he earned the nickname `Tall Paul`.

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