As chairman of the Federal Reserve (1979-1987) he literally rescued the American economy from destroying itself, summoning the courage to. The Bernanke Fed egged on inflation the Volcker Fed vowed to kill it. Paul Volcker has devoted his lifes work to public service and the critical importance of open, disciplined and efficient government. Volcker shut the flood gates and jacked up interest rates. Bernanke opened the monetary spigots and pressed down interest rates, Mr. Jerome Powell is literally taking a page out of Paul Volckers playbook,' said Conzo. His policy, announced in an extraordinary Saturday press conference just two months after he took office, was the polar opposite of the radical “stimulus” imposed after the downfall of Lehman Brothers in 2008. That happened to be the name of Paul Volckers autobiography: Keeping at It.
Volcker (Author) 193 ratings See all formats and editions Hardcover S35.77 2 Used from S37.46 12 New from S34.54 Paperback S25.59 1 Used from S31.86 10 New from S25. Volcker’s engaging and-from the current vantage point of 2.5% inflation and 5% mortgage rates-seemingly incredible memoir.īefore Jay Powell and Janet Yellen, before Ben Bernanke and Alan Greenspan, there was “tall Paul,” the thrifty, 6-foot-7 career civil servant who smoked cheap cigars and fished for trout with a fly rod. Keeping At It: The Quest for Sound Money and Good Government Paperback 16 April 2020 by Christine Harper (Author), Paul A. How these things happened and what put a stop to them furnishes the most striking portions of Mr. Soon Americans would rub their eyes to behold a 16% Treasury-bill yield and an 18% mortgage rate. In August 1979, when Paul Volcker began what would prove to be an eight-year stint as chairman of the Federal Reserve, inflation was running at a rate of more than 11% a year. Former Federal Reserve Chairman Paul Volcker in 2010.
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