Topic A in the Money World

Will Reagan reappoint Volcker or won't he? Does he really have a choice?

It is a prime subject—probably the prime subject—of speculation among Washington politicians, Wall Street financiers and businessmen everywhere: Will Federal Reserve Board Chairman Paul A. Volcker, 55, one of the pivotal makers of U.S. economic policy, be reappointed to a new four-year term in August? Last week, for example, at a New York City luncheon for 20 top money managers held by Morgan Stanley & Co., the investment banking firm, Admiral Robert L.J. Long talked at length about the Soviet military...

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