It is an honor to host Chairman Paul Volcker’s speech on Central Banking, as this week’s commentary. The speech was given in 1990 during the Per Jacobsson Foundation Lectures series.

During his tenure as Chairman of the Federal Reserve Bank, the US regained its strength and credibility and set the foundations of growth and stability for the next thirty years. That great reversal became the cornerstone of monumental changes in the global economy. We believe that nowadays the global economy – and especially the developed economies due to their unsustainable debt levels – faces challenges that call for out-of-the-box solutions, that resemble Chairman Volcker’s innovative policies.

Our thanks to Chairman Volcker for the use of his speech and also to The Per Jabobsson Foundation for their permission to use the speech.