An interesting endorsement from the man who beat inflation in the 1980s:
“After 30 years in government, serving under five Presidents of both parties and chairing two non-partisan commissions on the Public Service, I have been reluctant to engage in political campaigns. The time has come to overcome that reluctance,” Mr. Volcker said in a statement today. “However, it is not the current turmoil in markets or the economic uncertainties that have impelled my decision. Rather, it is the breadth and depth of challenges that face our nation at home and abroad. Those challenges demand a new leadership and a fresh approach.”
He concluded: “It is only Barack Obama, in his person, in his ideas, in his ability to understand and to articulate both our needs and our hopes that provide the potential for strong and fresh leadership. That leadership must begin here in America but it can also restore needed confidence in our vision, our strength, and our purposes right around the world.”
While Volker is most often associated with the Reagan years, he was in fact appointed by Jimmy Carter in 1979 (perhaps the one economic decision that Carter made that turned out to be correct) and is a Democrat. Nonetheless, it’s interesting to see more and more of the Democratic elite coalescing around this guy.