Volcker : the triumph of persistence / William L. Silber.

Format:

Book

Author/Creator:

Silber, William L.

Language:

English

Subjects (All):

Volcker, Paul A.

Board of Governors of the Federal Reserve System (U.S.).

Economists--United States--Biography.

Economists.

Monetary policy.

History.

United States.

Board of Governors of the Federal Reserve System (U.S.)--Officials and employees--Biography.

United States--Economic policy--1971-1981.

Economic policy.

United States--Economic policy--1981-1993.

Monetary policy--United States--History--20th century.

Genre:

Biographies.

Physical Description:

viii, 454 pages : illustrations ; 25 cm

Edition:

First u.s. edition.

Place of Publication:

New York : Bloomsbury Press, 2012.

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.

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

Comprimise

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.

Notes:

Includes bibliographical references (pages 427-440) and index.

ISBN:

9781608190706

1608190706

OCLC:

773811697