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Editor’s Note: When Paul Volcker was presented the NABE Lifetime Achievement Award for Public Policy, he was invited to share his views on public policy related to money and banking in an informal context. In addition to his own remarks, he responded to questions offered by Steve Liesman and Kenneth D. Simonson. What follows is an edited transcription of those views.
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Conducted on the occasion of Paul Volcker: receiving the NABE Lifetime Achievement Award for Economic Policy on March 4, 2013.
*Paul Volcker is a former Chairman of the Board of the Federal Reserve System, serving from August 1979 to August 1987. Previously, he was President of the Federal Reserve Bank of New York, where he was also Vice Chairman of the Federal Open Market Committee of the Federal Reserve. Prior to that, he was Undersecretary of the Treasury for Monetary Affairs and served in a variety of positions with Chase Manhattan Bank and the New York Federal Reserve. He earned a BA, summa cum laude, from Princeton University, and an MA in political economy and government from the Harvard University Graduate School of Public Administration.Steve Liesman is CNBC’s Senior Economics Reporter, reporting on all aspects of the economy, including the Federal Reserve and major economic indicators. He appears on “Squawk Box” as well as other CNBC programs throughout the business day. Liesman joined CNBC from The Wall Street Journal (WSJ), where he served as a senior economics reporter covering monetary policy, international economics, academic research, and productivity. He was also an energy reporter and, from 1996 to 1998, the WSJ’s Moscow bureau chief. Prior to joining the WSJ in 1994, Liesman was the business editor for The Moscow Times. He also worked as a business reporter for both the St. Petersburg Times in St. Petersburg, Fl, and The Sarasota Herald-Tribune in Sarasota, FL. Liesman holds a BA in English from the State University of New York, Buffalo and an MS from the Columbia University Graduate School of Journalism.Kenneth D. Simonson is the 2012–13 president of NABE and has been Chief Economist for the Associated General Contractors of America (AGC) since 2001. He provides insight into the economy and what it implies for construction and related industries through frequent media interviews, presentations, and The Data DIGest, his weekly one-page e-newsletter. Before joining AGC, he was senior economic advisor in the U.S. Small Business Administration’s Office of Advocacy. Earlier, he was vice president and chief economist for the American Trucking Associations. He also worked with the President’s Commission on Industrial Competitiveness, the U.S. Chamber of Commerce, the Federal Home Loan Bank Board, and an economic consulting firm. Ken has a BA in economics from the University of Chicago, an MA from Northwestern University and has taken graduate courses at the Université de Paris, Johns Hopkins, and Georgetown Universities.
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Volcker, P., Liesman, S. & Simonson, K. Commentary and Dialog with Paul Volcker. Bus Econ 48, 149–154 (2013). https://doi.org/10.1057/be.2013.13
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DOI: https://doi.org/10.1057/be.2013.13