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SUMMER SCHOOL 7: The Fed & Volcker's Socks
Planet Money
Paul Volker, Chairman of the Federal Reserve
Paul Volker is now 88 years old. He's running the New York Fed, but this is the top job. The White House called him in 1979 to talk about becoming chairman of the Federal Reserve Board. In that meeting with the president, Volker says one of the reasons there's inflation is that his predecessors at the Federal Reserve had basically printed too much money.
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