Federal Reserve Chairman

Volcker to Resign From Economic Recovery Advisory Board

Paul Volcker, chairman of the Economic Recovery Advisory Board for President Barack Obama, is set to step down from the position next month. As a key adviser to the president, Volcker has advocated for tougher financial regulations and counseled the government on fiscal policy.

Federal Reserve's Donald Kohn to Join Brookings Institution

The Federal Reserve's Donald Kohn, who has worked at the central bank for 40 years, will become a senior fellow at the Brookings Institution when he leaves the Fed next week. Kohn, 67, advised Fed Chairman Ben Bernanke throughout the financial crisis, and also served as a key adviser to former chairman Alan Greenspan. He first entered central banking as a researcher at the Federal Reserve Bank of Kansas City in 1970, and has served as a Fed governor and as head of the monetary affairs group.

What Greenspan Sees Next

Greenspan expects jobs "to come back fairly quickly" since frightened businesses cut costs so deeply and can now barely keep up with demand. Still, he warned that unemployment rates could stay high for a while.