December 09, 2019

Brown Statement on the Passing of Former Chair of the Federal Reserve Paul Volcker

WASHINGTON, DC – U.S. Senator Sherrod Brown (D-OH), Ranking Member of the Senate Banking, Housing and Urban Affairs Committee, today released a statement following the passing of Paul Volcker, former Chairman of the Federal Reserve. Volcker served as Chair under both Presidents Jimmy Carter and Ronald Reagan. He was appointed by President Carter in 1979. He was re-nominated by President Reagan in 1983 and served until 1987. He started the Volcker Alliance in 2013 to support policies that protect hardworking Americans from another financial crisis like the one in 2008.


“Chairman Volcker stood out as a public servant who took financial stability and accountability seriously. His decades of experience were invaluable as our nation made much needed reforms to crack down on Wall Street’s risky bets that caused the 2008 Financial Crisis. Paul fought to the end for reforms to the banking system that protect hardworking families. I am grateful for his guidance and wise counsel over the many meetings we had together,” said Brown.