December 9, 2019

RIP: PAUL VOLCKER, THE CARTER-REAGAN FED CHAIRMAN WHO BEAT INFLATION, DIES AT AGE 92. Combined with President Reagan’s tax cuts, Volker’s fight against inflation “‘set the table for the long economic expansions of the 1980s and 1990s,’ former St. Louis Fed President William Poole said in a 2005 tribute.”

UPDATE: At Power Line, Steve Hayward quotes from his Age of Reagan series: “Reagan had his first meeting with Volcker over lunch on his third day in the Oval Office. Reagan opened the lunch with a question that must have nearly knocked Volcker out of his chair: Why do we need a Federal Reserve anyway?” Read the whole thing.

 

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