Paul Volker, aged 92, has passed away

Posted on: December 9, 2019 at 08:34:45 CT

Paul Volcker, who defeated runaway inflation as Federal Reserve chairman in the 1980s, establishing the importance to the economy of an independent central bank, and whose “Volcker Rule” became a controversial element of postcrisis banking regulation in the Obama administration, has died at 92 years old.

Mr. Volcker served in government across Democratic and Republican administrations for almost three decades in roles guiding monetary policy and overseeing the nation’s financial system.