Paul Volcker, 6 ft. 7 in., has a reputation for towering over his adversaries, even tough ones like inflation and political pressure. Last week the Federal Reserve Board chairman came out on top again, this time in a policy struggle with his colleagues on the board. Early in the week it was revealed that the group had outvoted him 4 to 3 on a key decision to lower interest rates, an indicator that Volcker's control over the board might be slipping. But only a few days later Volcker's most powerful sparring mate on the board, Vice Chairman Preston Martin, who has...
To continue reading:
or
Log-In
