Paul A. Volcker ’49

Paul Volcker, perhaps the best-known member of the Class of 1949, died Dec. 8, 2019. He left an enormous legacy of service to his country — a career culminating as chairman of the Federal Reserve System in Washington, D.C. Many obituaries about him have already been published.

Although much has been written about Paul, those of us in the Class of 1949 may have our own memories of his undergraduate life. The quiet kid from Teaneck, N.J., was reasonably well known on campus and belonged to Whig-Clio and Key and Seal. He majored in SPIA, graduated magna cum laude, was elected to Phi Beta Kappa, and went to Harvard for a master’s degree.

After a year at the London School of Economics, he spent several years in investment banking, then joined the Federal Reserve Bank of New York as its president. In 1979 President Jimmy Carter appointed Paul to be chairman of the Federal Reserve System; the rest of his career has been well documented in many articles.

Paul was predeceased by his first wife, Barbara Bahnson. He is survived by his wife, Anke Dening; and his children, James and Janice. We offer our admiration and sympathy to them all.