Economic Czar

Paul Volcker, a Democrat[1], was appointed Chairman of the Federal Reserve in August 1979 by President Jimmy Carter and reappointed in 1983 by President Ronald Reagan.[2]
Volcker's Fed is widely credited with ending the United States' stagflation crisis of the 1970s. Inflation, which peaked at 13.5% in 1981, was successfully lowered to 3.2% by 1983.
The federal funds rate, which had averaged 11.2% in 1979, was raised by Volcker to a peak of 20% in June 1981. The prime rate rose to 21.5% in '81 as well. [3]
These changes in policy contributed to the significant recession the U.S. economy experienced in the early 1980s, which included the highest unemployment levels since the Great Depression. Volcker's Fed also elicited the strongest political attacks and most wide-spread protests in the history of the Federal Reserve (unlike any protests experienced since 1922), due to the effects of the high interest rates on the construction and farming sectors, culminating in indebted farmers driving their tractors onto C Street NW and blockading the Eccles Building.[4]
Since his appointment as the “Economic Czar”, it doesn’t appear that President Obama is utilizing Paul Volcker in any real capacity. However, he is drawing a salary from the Federal Government (your tax dollars at work). I can find no information on where the “Economic Czar’s” office is, his phone number, his job description, what he has been tasked to do (other than what was said by the President when he appointed him.
In March 2009, it seems that Lawrence Summers, who is director of Obama’s National Economic Council, may have taken over the title but no confirmation by the President.
There is no transparency when it comes to the “real” structure of the Executive Branch of our Government and it would take a great deal of investigative reporting to determine exactly how many persons are currently drawing Government paychecks as a result of President Obama’s beefing up of the numbers.
Much of the information on Volcker was extracted from Wikipedia.