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
Volcker raised interest rates to finally put an end to run a way inflation.
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Nope. Reagan put an end to high inflation with supply side economics.
It’s discouraging to see FReepers giving credit to a Democrat (Volcker) when it isn’t earned, but really a myth created by the Fake News media.
Thank you chuckee
NINE IGNORANT POSTS
before someone got it right
Paul Volcker did the right thing
I think some posting here weren’t alive nor old enough to remember
I was in E school at the time when business school professors were conservative
They applauded Volcker
Sometimes I just shake my head here...