The Fed's Former Chairman Paul Volcker’s Legend Lives On
December 13, 2019 at 08:00 AM EST
Paul Volcker, former chairman of the Federal Reserve under Presidents Jimmy Carter and Ronald Reagan, passed away at 92 on Sunday. Unlike the complaints that interest rates are currently too high and impeding economic progress, with the 10 year bond sitting around 1.82%, Volcker’s greatest legacy as Fed chief was breaking inflation with incredibly high interest rates.