Volcker Sets Up Center to Examine Trust in Government

Photographer: Joshua Roberts/Bloomberg

Former Federal Reserve Chairman Paul Volcker speaks at the National Association of Business Economics 2013 Economic Policy Conference in Washington on March 4, 2013. Close

Former Federal Reserve Chairman Paul Volcker speaks at the National Association of... Read More

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Photographer: Joshua Roberts/Bloomberg

Former Federal Reserve Chairman Paul Volcker speaks at the National Association of Business Economics 2013 Economic Policy Conference in Washington on March 4, 2013.

Paul Volcker, who served as chairman of the Federal Reserve System from 1979 to 1987, said today that he is forming a nonpartisan initiative to rebuild public trust in government.

The goal of the Volcker Alliance is to catalyze new thinking and action with respect to federal, state and local government in the U.S. and abroad, Volcker said in a statement.

“Trust in American government has been declining for decades and similar attitudes are evident in other democracies,” he said. “Trust rests on confidence, and too often government, at all levels, in the eyes of its citizens, has been unable to respond effectively to the challenges of the day.”

Those challenges, he said, include the recent controversies involving the Internal Revenue Service and the Justice Department, which “underscore the relevance that government’s execution of its policies has on the lives of its citizens.”

The Volcker Alliance will sponsor research on government performance, make recommendations for policy development and implementation, and provide a forum for discussion of ideas and tools to strengthen policy execution at all levels of government, according to the statement.

Board members include William Donaldson, former chairman of the Securities and Exchange Commission under President George W. Bush, and Alice Rivlin, founding director of the Congressional Budget Office and director of the White House Office of Management and Budget under President Bill Clinton.

To contact the reporter on this story: Leslie Hoffecker in Washington at lhoffecker@bloomberg.net

To contact the editor responsible for this story: Cesca Antonelli at fantonelli@bloomberg.net

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