[count-your-change]

Too much bad advice in the officee of the prez. The price controls were a colossal failure and no one was surprised when they distorted the markets beyond recognition.

[Freedom4US]

Keeping interest rates at unprecedented lows for an extended period, isn’t this a type of price control as well?

At the time of the “Nixon Shock” America was a creditor nation, with a strong manufacturing base and middle class. It’s not as if the Fed can raise interest rates to 20%, in fact, even “normal” rates of 4%-6% would be a big problem.

[BfloGuy]

Too much bad advice in the officee of the prez.

I hadn't known that Volcker was so instrumental in creating the situation he would eventually end up fixing.