Paul Volcker to Receive 2012 Moynihan Prize
Paul A. Volcker will be the recipient of the 2012 Daniel Patrick Moynihan Prize, recognizing him for his use of evidence and social research in advancing the public good. The Moynihan Prize is awarded annually to an individual whose career demonstrates the value of informed judgment and the use social research in shaping public policy.
Volcker, Chairman of Federal Reserve system during the Carter and Reagan administrations, was widely credited with ending the inflation crisis of the 1970s through the use of tight monetary policies at the Fed. During our nations most recent economic crisis, he wastapped by President Obama to lead his Economic Recovery Advisory Board. Volcker advocated for increased regulation of the U.S. banking industry, which led to the inclusion of the so-called Volcker Rule in the Dodd-Frank legislation, restricting U.S. banks from making speculative investments that don’t benefit their customers.
The Moynihan Prize Dinner will held in May in Washington D.C.