Paul Volcker
International Council Member, Belfer Center for Science and International Affairs
Experience
In the course of his career, Paul A. Volcker worked in the Federal Government for almost 30 years, culminating in two terms as Chairman of the Board of Governors of the Federal Reserve System from 1979 to 1987. He divided the earlier stages of his career between the Federal Reserve Bank of New York, the Treasury Department, and the Chase Manhattan Bank. Upon leaving the Government, Mr. Volcker became the Chairman of Wolfensohn & Co., Inc. and Frederick H. Schultz Professor of International Economic Policy at Princeton University (now Emeritus). He was the first Henry Kaufman Visiting Professor at the Stern School of Business at NYU.
Currently, Mr. Volcker is the Chairman of the Board of Trustees of the International Accounting Standards Committee overseeing a renewed effort to develop consistent, high-quality accounting standards acceptable in all countries. In 2003 he headed a private Commission on the Public Service recommending a sweeping overhaul of the organization and personnel practices of the Federal Government. In April 2004, Mr. Volcker was asked to chair the Independent Inquiry into the United Nations Oil for Food Program, a responsibility that is continuing.
Pursuing his many continuing interests in public policy, Mr. Volcker is associated with the Japan Society, the Institute of International Economics, the American Assembly, and the American Council on Germany. He is Honorary Chairman of the Trilateral Commission and the Group of 30. He is also Chairman of the Trustees of International House in New York City.
Educated at Princeton and Harvard Universities and the London School of Economics, Mr. Volcker holds honorary degrees from those and other universities. Mr. Volcker is the author or co-author of a number of essays and books, including The Triumph of Central Banking; and Changing Fortunes: The World’s Money and the Threat to American Leadership.
