Paul Volcker has been thinking about mortality. Not his own, for in spite of the fact that he is 90, the self-proclaimed “world’s greatest procrastinator” has just inked a deal to publish his memoirs whenever the hell he feels like it. Nope: The former Fed Chairman is thinking about his beloved namesake, the Volcker Rule, which he may incredibly outlive, and the American century, which he probably already has.
“There are a few things I’d like to talk about,” said Mr. Volcker, 90 years old. “When I got out of college after World War II, we were the kings of the world. The American century has deteriorated a bit. It’s been an interesting arc of history….”
“I also did a few things after I retired from the Federal Reserve and have to cover that as well,” added Mr. Volcker, who served as chairman of President Obama’s Economic Recovery Advisory Board from 2009 to 2011. The so-called Volcker rule, part of the 2010 Dodd-Frank act, was intended to prevent banks from engaging in risky investment strategies.
However, if you plan to read only one aged white man’s autobiography in the next 10 years or so, and you prefer randy prose to discussions of fly-fishing and getting robbed for Time Person of the Year by his much-less-distinguished successor, perhaps wait for Warren Buffett to finally hang’em up and put pen to paper.
Asked whether there would much in the way of juicy gossip in his memoir, Mr. Volcker replied, “There’s no sex in the Federal Reserve. Or rather, no illicit sex.”