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Silber, William L
Volcker : the triumph of persistence / William L. Silber
1st U.S. ed
New York : Bloomsbury Press, 2012
book jacket
Location Call Number Status
 3rd Floor  HB119.V6 S55 2012    AVAILABLE
Subject Volcker, Paul A
Subject(s) Economists -- United States -- Biography
Subject Board of Governors of the Federal Reserve System (U.S.) -- Officials and employees -- Biography
United States -- Economic policy -- 1971-1981
United States -- Economic policy -- 1981-1993
Subject(s) Monetary policy -- United States -- History -- 20th century
Physical Description viii, 454 p. : ill. ; 25 cm
Note Includes bibliographical references (p. 427-440) and index
Contents Introduction: more than a central banker -- Prologue: the three crises of Paul Volcker -- Part I: Background. The early years -- Apprenticeship -- Part II: Confronting gold, 1969-1974. Battle plan -- Gamble -- Transformation -- Compromise -- Part III: Fighting inflation, 1979-1987. Prelude -- Challenge -- The plan -- Sticking to it -- New territory -- The only game in town -- The end of the beginning -- Follow-through -- The resignations -- An equestrian statue -- Part IV: The twenty-first century. In retrospect -- The rule -- Trust -- Personal records and correspondence -- Photographs and cartoons
Summary Over the course of nearly half a century, five American presidents--three Democrats and two Republicans--have relied on the financial acumen, and the integrity, of Paul A. Volcker. During his tenure as chairman of the Federal Reserve Board, when he battled the Great Inflation of the 1970s, Volcker did nothing less than restore the reputation of an American financial system on the verge of collapse. After the 2008 financial meltdown, the nation turned again to Volcker to restore trust. Volcker's career demonstrated that a determined central banker can prevail over economic turmoil--so long as he can resist relentless political pressure. His resolve and independent thinking--sorely tested by Richard Nixon, Jimmy Carter, and Ronald Reagan--laid the foundation for a generation of economic stability. Indeed, William L. Silber argues, it was only Volcker's toughness on monetary policy that "forced Reagan to be Reagan" and to rein in America's deficit.--From publisher description
NOTE 512929

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