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Bloomberg Businessweek Weekend - October 15th, 2022
Bloomberg Businessweek
The Wise Old Parrot Speaks
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Volcker was brought in to do something about inflation that his predecessors hadn't succeeded in bringing down. He turned to this monetarist approach of just targeting the money supply. That essentially told people, we're tying our hands and we're going to let interest rates go where they have to go. The markets didn't believe there would be any stronger action.
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