StartUp / Fintech
Monitor fintech startups, digital finance innovation, payments, banking disruption and emerging financial technology business models.
Acceptance remarks by Chair Powell, March 21, 2026
Summary
Chair Powell expresses gratitude for receiving the Paul Volcker Public Integrity Award, acknowledging the honor of being associated with a figure like Paul Volcker. He emphasizes Volcker's legacy as a model of selfless public service and integrity in economics and central banking.
Powell highlights Volcker's non-partisan approach and his ability to earn trust across political lines, serving under multiple presidents. He recalls Volcker's critical role in combating double-digit inflation during the early 1980s, showcasing his commitment to long-term economic stability despite facing significant political pressure.
The speech underscores the importance of independence and integrity in public service, asserting that these qualities are essential for making the right decisions. Powell reflects on the need for public servants to prioritize the long-term welfare of the economy over short-term political gains.
Powell concludes by reiterating the significance of integrity in one's career, suggesting that it is the ultimate measure of a public servant's contributions. He encourages others to emulate Volcker's example of principled service.
Perspectives
short
Support for Integrity in Public Service
- Emphasizes the importance of integrity in public service
- Highlights Volckers legacy as a model for public servants
- Advocates for independence in decision-making to achieve long-term goals
- Recognizes the need to resist political pressures for the greater good
- Calls for public servants to prioritize the public interest over personal or political gain
Neutral / Shared
- Acknowledges the challenges faced by public servants in maintaining integrity
- Notes the historical context of Volckers tenure and its impact on economic policy
Key entities
Timeline highlights
00:00–05:00
Chair Powell expresses gratitude for the Paul Volcker Public Integrity Award, highlighting the importance of integrity in public service. He reflects on Volcker's legacy of prioritizing long-term economic health over immediate political gains.
- Chair Powell expresses sincere appreciation for the Paul Volcker Public Integrity Award, emphasizing the significance of integrity in public service within economics
- Paul Volcker is honored for his steadfast commitment to the public interest, earning bipartisan trust during his time at the Treasury and Federal Reserve, setting a standard for future public officials
- Volckers decisive actions against high inflation in the early 1980s demonstrate the necessity of prioritizing long-term economic health over immediate political gains, establishing a foundation for future economic stability
- The speech reflects on Volckers recognition of the hardships caused by high interest rates, yet his unwavering focus on price stability contributed to the period known as the great moderation in the U.S
- Powell highlights the essential roles of independence and integrity in public service, asserting that these qualities are crucial for sound decision-making in leadership positions
- The remarks conclude with a reminder that integrity is a lasting asset for public servants, influencing their legacy and the effectiveness of their decisions, urging all in public service to uphold these principles