Paul Volcker, 1927-2019
Paul Volcker, one of The Concord Coalition Board of Directors longest-tenured members, and one of the Coalition’s earliest and most outspoken supporters, died on December 8, 2019. He was 92.
Bob Bixby, The Concord Coalition’s executive director, said, “Paul Volcker’s passing is a sad day for our country. At The Concord Coalition, We will miss his wise advice and counsel on our Board. The nation has lost a dedicated and passionate public servant.”
Mr. Volcker served as the Chairman of the Federal Reserve Board from 1979 to 1987. During his tenure, he made the difficult choices that were credited with tackling crippling inflation that threatened the nation’s economy. Throughout his life, he worked for better, more efficient, and cost-effective government, serving on the National Commission on Public Service and other public commissions. Most recently, he chaired the Economic Recovery Advisory Board under President Obama.
In 2013, Volcker created the Volcker Alliance with the mission to advance effective management of government to achieve results that matter to citizens.
In 1994, Mr. Volcker was the very first recipient of the Coalition’s Economic Patriot Award, for his service to his nation as Chairman of the Federal Reserve Board and as an ardent advocate for fiscally responsible federal policies. He was a valued member of the Coalition’s Board from its beginning, and over the years returned to the Economic Patriots Dinner to join his fellow Board members on the evening’s program.
His view of the long-term fiscal challenges ahead might best be summed up in remarks he made at Stanford University in 2005, saying “Baby boomers have been spending like there is no tomorrow. Big adjustments will inevitably come.”
Mr. Volcker is survived by his wife, Anka Dening along with a daughter, and son from his marriage to Barbara Bahnson, who died in 1998. He had four grandchildren.