• book

From the Publisher

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 in a shaky financial system: President Obama would name his centerpiece Wall Street regulation the Volcker Rule. 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.

Noted scholar and finance expert Silber draws on hours of candid personal interviews and complete access to Volcker's personal papers to render dramatic behind-the-scenes accounts from Volcker's career at the Treasury Department and the Federal Reserve: secret negotiations with European ministers; confrontations with the White House; crisis conferences with Wall Street titans, and even tense boardroom rebellions within the Fed itself. Filled with frank commentary from Volcker himself-including why he was personally irked with the "Volcker Rule" label-this will be the definitive account of Volcker's indispensable role in American economic history.
Published: Bloomsbury Publishing an imprint of Bloomsbury USA on
ISBN: 9781608193769
List price: $12.99
Read on Scribd mobile: iPhone, iPad and Android.
Availability for Volcker: The Triumph of Persistence
With a 30 day free trial you can read online for free
  1. This book can be read on up to 6 mobile devices.

Related Articles

The Atlantic
6 min read
Politics

Can Evangelicals Help Trump Thaw Relations With Russia?

On March 8, 1983, Ronald Reagan stood before an audience of evangelicals and declared that the Soviet government was the “focus of evil in the modern world.” The arena erupted in unsurprising applause, standing ovations, and echoes of the hymn “Onward Christian Soldiers.” While many conservatives supported a hardline stance on the Soviet Union, the religious right gave Reagan the moral backing he needed to reignite the Cold War. Pastors preached sermons about the godless, evil Russians. The 3.5 million-strong National Association of Evangelicals—who invited Reagan to address its annual gatheri
TIME
1 min read
Society

What a Disappointing U.S. Jobs Report Means

JULIA ZORTHIAN ANOTHER U.S. JOBS REPORT, ANOTHER ROUND of shock and disappointment. On June 4, the government reported that employers added a paltry 38,000 workers in May—far fewer than the 155,000 expected. While the unemployment rate dipped to 4.7%, the number of job hunters is at its lowest since 2007 because 458,000 people gave up on finding work last month alone. Lack of confidence in the recovery could have a near-term economic impact. Here’s how: UNCERTAIN RECOVERY There’s a chance May was just a statistical blip; the report has a margin of error of 100,000 jobs and classified 35,000
TIME
14 min read
Politics

What a President Needs to Know

The suite is quiet—oddly so, given its occupant’s seismic effect on the life of the nation beyond Fifth Avenue. And yet there is a pervasive hush here on the 26th floor of Trump Tower in midtown Manhattan, even in the corner office, where the tycoon turned Republican nominee sits at a cluttered desk. Vintage magazine covers featuring his image decorate the walls—Trump on Fortune, Trump on BusinessWeek, Trump on GQ, Trump on Playboy—while sports trophies (he’s about a 4 handicap on the golf course) are casually arranged on the windowsills. The only outward sign of what he has wrought: a modest