Word: volckerism
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...somewhat of a loner. He's not the gregarious consensus maker," says Shawmut Bank Chief Economist John Kalchbrenner, who served under Volcker at the Treasury...
...avid outdoorsman, Volcker generally avoids the Potomac cocktail party circuit, favoring more sporting diversions...
...When Volcker left the Federal Reserve Bank of New York to accept the chairmanship, he also accepted a 45 percent pay cut. He now earns $67,000 yearly--one-tenth the salary he could command in the private sector, bankers say--and has family has shouldered significant sacrifices...
During the week, Volcker lives in a modest Washington apartment. He spends weekends with his wife Barbara at their New York home...
Several years ago, Mrs. Volcker, who has been ill, went to work as a clerk to add to the family's income. The Volckers also took in a boarder to help make ends meet...