Inflation, Explained
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The Great Inflation Explainer Part Five
Inflation was near 14 point five % in the summer of 19 80, and unemployment was still over seven point five%. In august 19 79, the fed appointed a new chair by the name of paul volker. He created incredibly tight controls around the money supply. The fall out from that was that the us Entered a severe recession. And through commitment to a tyhpe money supply, the us. Managed to keep inflation in the single digits from that point forward.
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