![]() ![]() While Carter embarked on bruising battles to end industry cartels that kept prices artificially high, Volcker sought to restrict consumer spending, pushing interest rates up to the previously unheard of level of 20%. And they don’t like government and they don’t like to pay taxes.”įrom the moment he was appointed Federal Reserve chairman in 1979 by Jimmy Carter with a mission to support the president’s war on inflation, Volcker was in the public eye. “We’ve got an enormous number of enormously rich people that have convinced themselves that they’re rich because they’re smart and constructive. “The central issue is we’re developing into a plutocracy,” he told the New York Times. In 2018, he published a memoir, Keeping at It: The Quest for Sound Money and Good Government, and expressed concern about the direction of the federal government and the loss of respect for it. ![]() Paul Volcker testifying on Capitol Hill in 1984. ![]()
0 Comments
Leave a Reply. |