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When Paul Volcker became the chairman of the US Federal Reserve in 1979, after years of the United States being unable to control its worsening inflation problems, he proceeded to sharply increase interest rates to approximately 20%, which is associated with finally quelling inflation. The inflation-adjusted yield on bank accounts was very high at
... See moreLyn Alden • Economic Japanification: Not What You Think
Whether you credit Paul Volcker for breaking inflation through aggressive monetary policy tightening, or a fall in oil prices due to abundant supply in the early ‘80s, by 1980 the 10-year run in commodities was over, as so was the weakness in the US Dollar.
Peter Farac • A New Commodity Bull Market Must Come With a Weak US Dollar
Paul Volcker, the Fed chief during most of the 1980s, attempted to run policy by counting the total of money in circulation; he soon forsook this approach, known as “monetarism,” because no useful definition of money existed.
Roger Lowenstein • America's Bank
