Paul Volcker sees the bottom. Right in front of his nose. And let us tell you something: As head of the Economic Recovery Advisory Board and a fact finding body on the United States Tax Code, Das Volk knows wherefrom he speaks- when the man says "stop the presses," he means "stop the bloody presses"
The Federal Reserve is going beyond the traditional role of central banks here or abroad," Volcker said. "At some point it's reasonable to ask should this particular institution, with its independence very well protected, be allocating so much of what is essentially government money.
This would seem to suggest that rumor to the effect that Volcker had been "mushroomed" are false (or that he escaped his minders and is presently on a dangerous public speaking rampage, just one step ahead of the law.
Volcker Says the U.S. Economy Is 'Leveling Off' [Bloomberg]