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| | First Measured Century: Interview: Paul Volcker |
 | | Paul Volcker was Chairman of the Board of Governors of the Federal Reserve System, 1979-87 and former Undersecretary of the Department of the Treasury and President of the Federal Reserve Bank of New York. |
 | | PAUL VOLCKER: Inflation is thought of as a cruel, and maybe the cruelest, tax because it hits in a many-sectored way, in an unplanned way, and it hits the people on a fixed income hardest. |
 | | PAUL VOLCKER: Well, the Federal Reserve had been attempting to deal with the inflation for some time, but I think in the 1970s, in past hindsight, anyway, [it] got behind the curve. |
| www.pbs.org /fmc/interviews/volcker.htm (1521 words) |
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