Gone Fishing: Paul Volcker Retires From Public Life, Heads For the River
US financial guru to the President, Paul Volker, is swapping his city suit for a pair of waders and is ready to retire and go fishing says Monte Burke of Forbes in a recent news story.
Later this week Paul Volcker, the man who helped guide the U.S. through two of its most serious recent economic crises, will step down as the chairman of the President’s Economic Advisory Board. GE chief executive, Jeffery Immelt, will take over the reconstituted panel, which will be renamed the President’s Council on Jobs and Competitiveness. It marks the second time that Volcker has “retired” from public life.
So what’s he going to do now?
Time to hang up the proverbial “Gone Fishin’” sign on the door of his Manhattan apartment.
Volcker will always be best known for his public service career, which was split in two distinct halves. From 1979 to 1987, he served Presidents Carter and Reagan as the chairman of the Fed, and is widely hailed as the man who brought financial stability to those inflationary times. In 2009 he answered the call again when President Obama tapped him to become the first chairman of his economic advisory board, where he helped craft the administration’s response to the global financial crisis.
But in one relatively small and somewhat hermetic realm, Volcker is known for something else entirely. The 83 year-old is a giant (literally—he’s 6’7”—and figuratively) of the sport of fly fishing.
Contacted by phone at his Manhattan apartment, Volcker says he’s not planning to immediately jump on a plane and go fishing. “I’m getting older so it’s getting harder to go fishing,” he says. But he already has a few fishing trips in the works. In March he will likely head to fish the saltwater flats in Florida for bonefish and tarpon and perhaps permit (a species of fish that has thus far eluded his hook). And he has already made his summer plans to fish the Restigouche River–which forms the boundary between New Brunswick and Quebec–for his favorite fish in the world, the Atlantic salmon.