Obama’s top economic advisor is international accounting expert

The man Barack Obama has picked to head the Economic Recovery Advisory Board is a former trustee of the International Accounting Standards Board (IASB) who was brought in to try and reform Arthur Andersen after the Enron scandal. Paul Volcker, 81, achieved prominence as chairman of the Federal Reserve under Jimmy Carter, but actually has a long and illustrious career as a reforming accountant.

Economists who believe the West currently faces a stark choice between recession and inflation will be interested to know that while at the Fed in the 1970s Volcker confronted a similar problem.

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