![]() ![]() He became a leading crusader against global corruption-including the legal/lobbying kind practiced in Washington-and a tireless advocate of better-training for public servants as a path to better government. Once freed from the Fed, Volcker morphed into one of the world’s most blunt-spoken truth-tellers, describing the world exactly as he saw it. Only later did I fully appreciate that such obfuscation was tactical. He walked on, saying nothing.īut at the last minute, just before getting into his limousine, Volcker turned and began to speak. At the end of his testimony, a scrum of reporters, myself included, chased him down the hallway, shouting questions at his head-which towered above us-about whether the Fed had intervened. ![]() On one occasion near the end of his second term, Volcker was testifying before Congress on a day when rumors were rife that the Fed had intervened in foreign exchange markets. ![]()
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