1001Ebook » Entreprise et Bourse » Keeping At It: The Quest for Sound Money and Good Government (2022)

Description du livre Keeping At It: The Quest for Sound Money and Good Government (2022):

The extraordinary life story of the former chairman of the Federal Reserve, whose absolute integrity provides the inspiration we need as our constitutional system and political tradition are being tested to the breaking point.

As chairman of the Federal Reserve (1979-1987), Paul Volcker slayed the inflation dragon that was consuming the American economy and restored the world's faith in central bankers. That extraordinary feat was just one pivotal episode in a decades-long career serving six presidents.

Told with wit, humor, and down-to-earth erudition, the narrative of Volcker's career illuminates the changes that have taken place in American life, government, and the economy since World War II. He vibrantly illustrates the crises he managed alongside the world's leading politicians, central bankers, and financiers. Yet he first found his model for competent and ethical governance in his father, the town manager of Teaneck, NJ, who instilled Volcker's dedication to absolute integrity and his "three verities" of stable prices, sound finance, and good government.


If there was an award for outstanding public servant of the past century, Paul Volcker would win it hands down.

The great man will never even have realised it, never mind forgotten it, but I actually bought him a beer twenty years ago, when I found him queuing at a bar in Washington having just finished giving a speech at a conference I had had a hand in organising. I sat with him for about ten minutes while we had a beer. He was completely down to earth and easy to talk to, which was no mean feat at all for a man of his height, never mind all the lofty prior jobs he had done.

Anyway, the killer anecdote in this book is the story about Volcker being "instructed" to lower interest rates by Ronald Reagan's then Chief of Staff, James Baker, with the President looking on sheepishly. I don't think it would have made the slightest difference to what Chairman Volcker subsequently did, but I had not seen the story before, and it is quite relevant in terms of President Trump and his more overt pressure on the Fed today (i.e. these things have happened before).

This book is a pleasure to read, and a must-read if you are at all interested in US monetary and economic policy-making of the past sixty years.

Tall Paul: we owe you one.