Home > Fmr chief of US Federal Reserve and current economic adviser to President (...)
Fmr chief of US Federal Reserve and current economic adviser to President Obama warns of US dollar crash
by Open-Publishing - Thursday 22 January 2009Paul Volcker, the former chief of the U.S. Federal Reserve and current economic adviser to President Barack Obama warns of U.S. dollar Crash
Tobias Bayer (Frankfurt)
He was famous for his tough anti-inflation rate at the top of the U.S. central bank in the’80s. Now the 81-year-old adviser to Obama. In unusually sharp words, he drew a gloomy picture of the U.S. economy.
Paul Volcker, the former chief of the U.S. Federal Reserve and current economic adviser to President Barack Obama, has one U.S. dollars Crash warned. "There is a risk that confidence in the dollar is falling," Volcker said on Wednesday at the Senate hearing of the Finance Minister-designate Timothy Geithner. For the U.S. economy, he is very skeptical. The end of the recession was not foreseeable that the world is placed in the middle of the "mother of all crises."