Amen and thanks to you both
Well done
Volcker cure crazy oil prices driven inflation
It was tough but essential
He did not cause the 19% bank lending rates
He ended them
One man who greatly appreciated Paul Volcker was Ronald Reagan.
No one can produce an example of Reagan criticizing Paul Volcker for strangling inflation via those ultra high interest rates because Reagan never did. It was exactly what needed to be done and Reagan supported Volcker in doing it.
A lot of freepers toss around “supply side” or “Reaganomics” without knowing anything about it other than tax cuts. One of its legs was a policy for choking off inflation, which could only be done by the Fed. And Paul Volcker delivered that in spades.