Paul A. Volcker was Chairman of the Board of Governors of the Federal Reserve System from August 1979 to August 1987. He was appointed initially to that position by President Jimmy Carter for a four-year term, and he was reappointed in 1983 by President Reagan. Over the course of his career, Mr. Volcker worked in the Federal Government for almost 30 years, serving in office under five presidents: John F. Kennedy, Lyndon B. Johnson, Richard M. Nixon, Jimmy Carter, and Ronald Reagan. Prior to his appointment as Chairman of the Board of Governors of the Federal Reserve System, Mr. Volcker spent more than four years as President of the Federal Reserve Bank of New York. Mr. Volcker returned to private life in 1987 by joining the firm of James D. Wolfensohn & Co., Inc. as Chairman, until his retirement in 1996. Subsequently, he chaired three significant investigations, including inquiry into Swiss bank accounts of Holocaust victims, the U.N. Oil for Food program, and the anti-corruption program of the World Bank. He later founded the Volcker Alliance, concerned with improving the efficiency and effectiveness of the Federal, State, and local government.