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Automatic TRANSCRIPT

He was known as the fed chair who tamed inflation now Paul Volcker has died at his home in New York here's ABC Jim Ryan Paul Volcker served as chairman of the federal reserve under presidents Carter and Reagan but decades later head of president Obama's economic recovery advisory board to combat inflation folders that raise the federal funds rate and tighten the money supply and while it did cut inflation can also created the conditions for a recession he founded the Volcker alliance a nonpartisan nonprofit organization when he was eighty six to promote public service he died yesterday at ninety