“I don’t think you can escape that.” These were the words of Federal Reserve Chairman Paul Volcker as he testified before Congress in October 1979. Inflation was 13%. Volcker’s ...
Stagflation, the challenging combination of high inflation, slow economic growth, and rising unemployment, presents a ...
This policy, famously known as the “Volcker Shock,” aimed to reduce inflation by contracting the money supply and curbing demand. Although these measures plunged the U.S. economy into a ...
Golf legend John Daly marked the end of 2024 in typically understated fashion, smashing a drive over the street while smoking a cigarette. The 58-year-old, who has earned cult status for his ...
Reagan kept Volcker in the job. The “Volcker Shock” eventually killed off inflation, but also a significant share of US export industries rendered uncompetitive by the overvalued dollar.
Sheltered tents have been erected to give families privacy. There's a stillness and shock that hangs in the air. Many of those on board were returning from a Christmas holiday to Thailand.
Meanwhile, Volcker’s powerful monetary machinery kept delivering what The New York Times called a kind of “shock therapy” that crushed economic activity. By November 1982, as voters prepared ...
The Volcker Rule is a rule limiting certain financial institutions' ability to own, invest or sponsor hedge funds, private equity or other proprietary trading operations. The Rule seeks to ...