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PAUL VOLCKER HONORED AS GERMAN-AMERICAN OF THE YEAR

The German-American Heritage Foundation recognized Paul Volcker as the 2010 Distinguished German-American.

Philadelphia, PA – During an Awards and Fundraising Gala on January 15 at the Cannstatter Volksfest Verein in Northeast Philadelphia, Paul Volcker was honored as the Distinguished German-American of 2010. Economist Paul A. Volcker was the Chairman of the Economic Recovery Advisory Board appointed by President Barak Obama from 2009 until the end of January 2011. He is best known for his role as Chairman of the Federal Reserve from 1979 to 1987 under Presidents Jimmy Carter and Ronald Reagan. In this capacity, he was instrumental in reducing the high inflation levels.

Each year since 1987, the award has honored an American of German ancestry for their leadership and outstanding contribution to American society. Awardees of previous years have included William R. Timken, the U.S. Ambassador to Germany from 2005 to 2008, and General H. Norman Schwarzkopf, the commander of the coalition forces during the Persian Gulf War in 1991, and the biologist and Nobel laureate GünterBlobel. The businessman and founder of a successful chain of butcher shops Karl Ehmer received the first award 24 years ago.   

Volcker was born in 1927 in Cape, New Jersey. His family moved to Teaneck where Volcker attended high school. He studied economics and history at Princeton University and went on to earn his Master’s degree in political economy from Harvard University in 1951.

The German-American Heritage Foundation of the USA® is a 501(c)(3) educational non-profit organization committed to inform and educate the American public about the heritage of German immigrants and their valuable contributions to the developments of the United States. The GAHF serves as the national umbrella organization in which German-Americans work together on vital issues of common concern and promote their heritage. Its mission is to preserve and promote the heritage of Americans of German-speaking ancestry. The organization was founded in 1977 and chartered in 1978 as the United German-American Committee of the USA, Inc. (UGAC).

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