Paul A. Volcker was Chairman of the Board of Governors of the Federal Reserve System from August 1979 to August 1987. Initially appointed to that position by President Carter for a four-year term, he was reappointed in 1983 by President Reagan.
Over the course of his career, Mr. Volcker worked in the Federal Government for almost 30 years, serving in office under five presidents—John F. Kennedy, Lyndon B. Johnson, Richard M. Nixon, Jimmy Carter, and Ronald Reagan. Prior to his appointment as Chairman of the Board of Governors of the Federal Reserve System, Mr. Volcker spent more than four years as President of the Federal Reserve Bank of New York.
Mr. Volcker returned to private life in 1987 by joining the firm of James D. Wolfensohn & Co., Inc. as Chairman, until his retirement in 1996. He is currently serving as director of, or consultant to, a number of corporations and nonprofit organizations.