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.
Correct on all counts.
The Reagan economic boom would have never seen the light of day if the interest rates had continued to be higher than dirty dozen.
A lot of freepers toss around “supply side” or “Reaganomics” without knowing anything about it other than tax cuts.
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The most important part of Reagan’s supply side economics was slashing regulations, which for some reason you didn’t mention.
It’s sad to see FReepers giving credit to a market manipulating Democrat like Volcker, rather than to Reagan who deserves the credit.