Volcker Assumes Smaller-Than-Expected Role With Obama By MONICA LANGLEY WASHINGTON -- As an early supporter of Barack Obama, Paul Volcker gave the young presidential candidate gravitas and advice. He frequently sat by Mr. Obama's side at key economic events, and started carrying a cellphone for the first time, just to be able to brainstorm with the candidate from the campaign trail. In the Obama White House, the role of the 81-year-old former chairman of the Federal Reserve has been more limited. The one-time central banker has been put in charge of a presidential advisory board that hasn't yet had a...