Interview of Paul Volcker..

It has become hugely fashionable to call central bankers these days as a la Volcker. Both central bankers and media love to belong in the group. Being a Greenspan is a pariah but the reality is most are trying to be just like Greenspan — infusing another bubble or believing in the power of financial markets.  It is tough, really tough to become a Volcker..

So here is an interview of Paul Volcker in recent JEP. It is conducted by Martin Feldstein and is full of insights and fun. Sample this:

FELDSTEIN: Let’s talk for a moment about the Volcker Rule, which I remember you were saying at the time . . .
VOLCKER: That’s my favorite rule.
FELDSTEIN: It’s your favorite rule. Well, if I had a rule named after me, it would probably be my favorite rule as well.