Paul Volcker: The inflation tamer who set bank risk rule, dies at 92

Paul Volcker, the former Federal Reserve chairman who broke the back of US 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 in New York, according to the New York Times, which cited his daughter, Janice Zima.

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