The messy true story of the last time we beat inflation

Leave a comment

Click the link below the picture


As inflation persists at multi-decade highs, the pressure is on the Federal Reserve, above all other economic policymaking institutions, to halt rising prices: The central bank announced another interest rate increase Wednesday in its ongoing efforts to combat inflation.

Since the climax of the last major inflation crisis in the 1970s, independent central bank chiefs willing to administer proverbial harsh medicine — raising interest rates so high they potentially cause a recession — have reigned like near-deities over our economic lives.

In this, Fed Chair Jerome Powell stands in the shadow of his most legendary predecessor, the late Paul Volcker. Inflation hawks want Powell to go “full Volcker”: follow the elder banker’s example from 1979 and raise interest rates high enough to choke off demand, even at the cost of a devastating recession.

The Volcker shock looms large in the mythology of central banking: the moment when neoliberal Zeus slew the old economic Titans standing in the way of progress. Volcker’s rate hikes sent the US economy into the worst recession since the Great Depression during the early 1980s, but it eventually recovered into what’s called the “Great Moderation”: a more than three-decade stretch when inflation seemed banished even as economic growth returned.


https://cdn.vox-cdn.com/thumbor/yfNlJA1MYwWUxDRDdakJKZbT5g0=/0x0:4237x2825/920x613/filters:focal(1463x871:2139x1547):format(webp)/cdn.vox-cdn.com/uploads/chorus_image/image/71574048/GettyImages_1292713874_volcker.0.jpgFormer Federal Reserve Chairman Paul Volcker’s rate hikes sent the US economy into the worst recession since the Great Depression during the early 1980s — but it eventually recovered.Bita Honarvar/Vox; Diana Walker/Getty Images; iStockphoto



Click the link below for the article:




Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Our opinions don't stink!

Professional Hacker To Hire

Professional Hacker For Hire, Hire a Hacker, Hire WhatsApp Hacker, Facebook Hacker, Hire Snapchat Hacker, Hire Phone Hacker, Hire Email Hacker, social media, mobile phones among others

Krater Café

Words and Images by Richard Reeve

Mi-Body Health

Reliable Health and Medical information source

The Risell Chronicle

Poems by Dany D Risell

𝗦𝗺𝗶𝗹𝗲, 𝗜𝘁𝘀 𝗙𝗿𝗲𝗲 𝗧𝗵𝗲𝗿𝗮𝗽𝘆

Smile, it is the key that fits the lock of everybody’s heart.”


Tu sitio web favorito para temas financieros y de desarrollo personal. ¿Te lo vas a perder?

Hindu Tantra mantra For Love Back - Lost Love back - Ex Love back

Get Your Love Back - Lost Love back - Ex Love back by Hindu Tantra mantra.

Kiran ✨

Reading And Writing is the best Investment of Time ✨ ( Motivational Thoughts) "LIFE IS A JOURNEY"


Si va avanti per resistere contro tutti e tutto


Снисходительны друг к другу, что означает счастливы. Хранить мир, из которого любовь не уходит, на земле можно только так. святой.сайт

Cebu Women Official Blog

Meet and Date Single Philippine Women from Cebu City

Find A Way by JWP

Find daily inspiration in decor style creativity


Love Skye - Love Nature - Love Life

El Blog de Wim

Minimalista y Esotérico

Dan's Food Blog

I'm Dan, a mad scientist in the kitchen.

Economics and Finance 101

Sharing Economics and Finance With You


Tek ve Yek


Where Real World Topics & Discussion Takes Place

Printer Driver

Download Software Driver


You Can save your marriage with the right knowledge


Technology for life



Ash radiance♡

Creating the life I love!..😇

IJ Printer

All about printer


Just expressing.....

Oh my bridge

"Il bridge è come il sesso: se non hai un buon partner, meglio che tu abbia una buona mano."

The sense

"L'amore non conosce barriere. Salta ostacoli, oltrepassa recinzioni, attraversa pareti per arrivare alla sua destinazione, pieno di speranza." - Maya Angelou


Siyah neden gökkuşağında olmak istesin ki gece tamamıyla ona aittken 💫

M.A aka Hellion's BookNook

Interviews, reviews, marketing for writers and artists across the globe

Still normal.

Ups and down everyday, let us make dailyliving normal.

Zsolt Zsemba

Take a deep breath and open your mind....

Sharpshot Nature .Com

- Specializing in the great outdoors, capturing nature at it's finest!


Analyse own life


Autism-spectrum-disorder, posttraumatic stress disorder.. autoimmune.


technology for innovators

%d bloggers like this: