Volcker, Paul A., 1927-2019

Paul A. Volcker became chairman of the Board of Governors of the Federal Reserve System on August 6, 1979. He was reappointed for a second term on August 6, 1983, and served until August 11, 1987. During his time as chairman, Volcker focused on reducing inflation and expanding the money supply without further increasing inflation. Volcker also served as a chairperson of President Obama's Economic Recovery Advisory Board from 2009 to 2011. In that role, he made a significant contribution to the Dodd-Frank Wall Street Reform and Consumer Protection Act by introducing the "Volcker Rule." (Source: Federal Reserve History)