We are told that Paul Volcker led the Federal Reserve into the breech and bravely and knowingly raised short-term interest rates so as to bring about a recession and extinguish the 1970s Great Inflation. But according to Fed transcripts Volcker & Co. fell ass-backwards into recession.
----EP. 247 REFERENCES---- Monetary Policy Is All Talk All the Time, and Always Has Been: https://bit.ly/3xNg9A1 The Myth of Paul Volcker and the Powerful Fed [Eurodollar University, Ep. 221]: https://youtu.be/9XqHyZOLiEc Alhambra Investments Blog: https://bit.ly/3wh01G2 RealClear Markets Essays: https://bit.ly/38tL5a7 Epoch Times Columns: https://bit.ly/39ESkRf