Schacht, Hjalmar Horace Greely (1877–1970)

German financier. As president of the Reichsbank from 1923–29, he founded a new currency that ended the inflation of the Deutschmark. In 1933 he was recalled to the Reichsbank by the Nazis and, as minister of economics, restored Germany's trade balance. Dismissed from the Reichsbank after a dispute with Hitler over expenditure on rearmament, he was charged with high treason and interned; he was later acquitted of crimes against humanity at Nuremberg in 1945 and cleared by the German de-Nazification courts in 1948.

In 1952 Schacht advised Muhammad Mossadeq on Iran's economic problems, and in 1953 he set up his own bank in Düsseldorf.