We are not makers of history. We are made by history ― Martin Luther King Jr. In October 1979, Paul Volcker, the Chairman of the US Federal Reserve, implemented a significant change in US monetary policy. At that time, the US was grappling with stubbornly high inflation rates that had soared into double digits. Volcker introduced a strategy of tightening the money supply by raising interest rates to unprecedented levels. This move marked a departure from previous Fed policies that had focused more on managing short-term economic fluctuations.
Ghost Walking
Ghost Walking
Ghost Walking
We are not makers of history. We are made by history ― Martin Luther King Jr. In October 1979, Paul Volcker, the Chairman of the US Federal Reserve, implemented a significant change in US monetary policy. At that time, the US was grappling with stubbornly high inflation rates that had soared into double digits. Volcker introduced a strategy of tightening the money supply by raising interest rates to unprecedented levels. This move marked a departure from previous Fed policies that had focused more on managing short-term economic fluctuations.