Overview
- Powell accepted the Paul A. Volcker Public Integrity Award via a pre‑recorded video for the ASPA Annual Conference, praising Volcker as a “towering figure” in public service.
- Calling “independence and integrity inseparable,” Powell cited Volcker’s resolve to defeat early‑1980s inflation despite political pressure as a model for principled policy.
- The appearance followed the March FOMC decision to keep rates unchanged, with the Fed’s projections pointing to roughly one cut this year and a year‑end level near 3.4%, according to published guidance.
- Market coverage tied the moment to a tense backdrop, with major U.S. equity indexes falling Friday and oil prices rising as Middle East tensions and Iraq’s force majeure on oilfields lifted energy‑price risks, according to reports.
- The award is presented at ASPA, sponsored by the Volcker Alliance and supported by Ray and Barbara Dalio, per conference materials.