Reagan renominated Volcker in 1983.
Reagan renominated Volcker in 1983.
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It doesn’t matter who was nominated. All Fed Chairmen pretty much act the same way. They all promote the incorrect theory that economic growth and wage increases cause inflation.
Every where there is high inflation you’ll find a lot of government debt combined with damage to the supply side of the economy. Zimbabwe and Venezuela are recent examples.
Significant in the United States during the 70’s that hurt the supply side of the economy was oil industry regulation and price controls.