Volka's Inflation Dynamic Was Not Necessary

In the twenties, there was a need for more and more money in order for business to make a go of it. So bo vulger hiked the federal funds rate, the target rate, to 22 %. He knew that would bring about a recession. In 81, 82, brought about the worst recessions at that point since the great depression. And then that did set in motion disinflationary forces.