'Paul Volcker was a giant in many ways,' Buffett said, referring to not only Volcker's huge impact, but his tall stature. It shares a timeline of Volcker's long career, including his legacy of breaking inflation with high interest rates as Fed chief in the 1980s. The book is a memoir, sharing Volcker's time as chairman of the Fed from 1979 to 1987. 'I think you'll enjoy reading that book.' 'Not much before died, he wrote a book called 'Keeping At It,'' Buffett said. We've had a lot of very good Fed chairmen, but Paul Volcker, I had him at the top of the list,' Buffett said.Īnd Buffett recommended Volcker's 2018 book, 'Keeping At It: The Quest for Sound Money and Good Government,' during the meeting on Saturday. 'I've always had Paul Volcker up on a special place, special pedestal in terms of Federal Reserve chairmen over the years. He praised in particular, the late Paul Volcker, who served as the chairman of the Federal Reserve under Presidents Jimmy Carter and Ronald Reagan. 'And there really wasn't that much in our house. So under those conditions, I was born about nine months later,' Buffett, whose birthdate is August 30, 1930, said.) 'Keeping At It: The Quest for Sound Money and Good Government' by Paul VolckerĪt the shareholders meeting, Buffett also spoke about the Federal Reserve System and the role it has played in the economy. 'I think my dad probably liked to do was, they say now, 'shelter in place,' which means stay at home,' he said. (Buffett also told a lighter personal story about the crash and his dad, who was 26 in 1929 and sold stocks. In the book, Galbraith examines the 1929 financial collapse, including what led to it, how it led to the Great Depression and what could be learned from it. 'There's a great book about it called 'The Great Crash' by John Kenneth Galbraith,' he said during the meeting on Saturday.

During the shareholders meeting, Buffett spoke of times of great uncertainty in American history, including the stock market crash of 1929 that led to the Great Depression.įor those interested in learning more about this time period, he recommended the 1955 book, 'The Great Crash of 1929' by John Kenneth Galbraith.

Keeping at it volcker