Paul Volcker, Inflation Tamer Who Set Risk Rule, Dies at 92 (1)

Paul Volcker, the former Federal Reserve chairman who broke the back of U.S. inflation in the 1980s and three decades later led President Barack Obama’s bid to rein in the investment risk-taking of commercial banks, has died. He was 92.

He died Sunday at his home in New York, according to his daughter, Janice Zima.

Paul Volcker at World Bank Headquarters in Washington in May 2014.

In a career that spanned more than half a century, Volcker became a one-man economic cleanup crew, called on to devise a successor to the gold standard, a cure for runaway inflation and, in 2008, a response to the housing-market collapse that ...