I wonder what he meant by that.
Well, there you go.
The guy was another big goon.
Nothing.
Multiple media outlets reported that Volcker, who raised interest rates as the Fed’s chief to combat inflation, had died.
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Volcker was a big time Democrat who raised interest rates to cause a really bad recession.
Reagan cured inflation with supply side economics.
No he raised interest rates so the federal reserve would make more money. Thats what they do. Create dollars out of thin air and lend them to us at interest.
Volcker raised interest rates to finally put an end to run a way inflation. Yes, there was pain that induced a 2 year recession while he was raising them and Reagan’s favorable ratings were dropping but Reagan supported them with one great line. “it was like being given the gift of horse manure at Christmas hoping there was a pony under there somewhere.” By 1983 Reagan got his pony and the economy took off. Yes, his reduction in marginal tax rates also supercharged the economy
RIP.
It’s only money, and you can’t take it with you. If you could, it would burn.
Volcker was a hero for single-handedly subduing high inflation. We never again had double digit inflation since then and will not have it again for many decades.
Because the supply exceeds demand due to increase in manufacturing capacity in Asia by orders of magnitude, compared to what it was during 1970’s.