Anyway Reagan understood and supported what Volcker was doing to choke off inflation.
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That was one of Reagan’s mistakes. Reagan also raised taxes at one point, another mistake.
Most of the credit should go to the American people for taming high inflation, not just for their natural ability to grow the economy, but also the incredible growth of the technology sector. Reagan got the government out of the way enough for the American people to do their thing.
Volcker caused a nasty recession and set the foundation for the savings and loan crisis. He doesn’t deserve credit for anything more than that.
“Most of the credit should go to the American people for taming high inflation,”
Oh? And what exactly did we do that we weren’t doing in the Carter years?
I’m curious to know if you were an adult then to know what the 70s were like. My guess is “no”.