Committee for a Responsible Federal Budget

Statement on the Passing of Paul Volcker

Dec 9, 2019

For Immediate Release 

Former Federal Reserve Chairman and Committee for a Responsible Federal Budget board member Paul Volcker died yesterday at the age of 92. The following is a statement from Maya MacGuineas, president of the Committee for a Responsible Federal Budget:

Paul Volcker was a giant in the world of economics and public policy. His steady leadership as Chairman of the Federal Reserve is rightly credited for stabilizing the economy and wringing out the massive inflation of the 1970s and early 1980s. And his service to our country continued long beyond that, spanning multiple administrations run by both political parties. 

Throughout his career, Paul always strove to do what was right, even when it was unpopular. We were lucky to have his leadership on our Board of Directors. He was more than just an advisor; he was a friend, and we will miss him. 

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For more information, please contact Ben Tomchik, deputy chief of staff, at tomchik@crfb.org