The Myth of Paul Volcker and the Powerful Fed [Eurodollar University, Ep. 221]

Eurodollar University · Apr 24, 2022 · 36m

Paul Volcker is widely credited in ending the 1970s Great Inflation with stratospheric rate hikes, purposefully pushing the USA into recession. Balderdash! Volcker blinked when rates spiked (secretly trying to unwind them). And it was stratospheric oil prices that brought on recession (as 'all' contemporary accounts agreed).

----EP. 221 REFERENCES----

The Fed Will Do What It Does, and It Won't Matter: https://bit.ly/3Mmj5YT

Economists Criticize Volcker: https://nyti.ms/37yZ2I2

Few Expect Relief From Higher Rates: https://nyti.ms/3Lg6sP2

Banks ‘Profitability Tested: https://nyti.ms/3Ovc9KM…