Paul Volcker, a former two-term Federal Reserve chairman and the namesake of regulations prohibiting the use of consumer deposits for speculative investments, has died at the age of 92.
Volcker is credited with helping to get the U.S. off of the “gold standard” while working as undersecretary of the Treasury Department under President Richard Nixon, fighting rising inflation in the 1980s amid political pressure and for serving on President Barrack Obama’s Economic Recovery Advisory Board, which was formed to help guide the country out of the financial crisis.
Learn more about Volcker’s legacy.