Paul Volcker

Paul Volcker was an American economist and central bank official best known for serving as Chairman of the Federal Reserve from 1979 to 1987. He faced high inflation during the late 1970s and early 1980s and implemented policies to increase interest rates, which helped stabilize the economy but also led to a recession. His tough measures earned him respect for curbing inflation and restoring economic stability. After his tenure at the Fed, Volcker continued to influence economic policy and was involved in various public service roles, emphasizing the importance of sound monetary policy and financial regulation.