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Can we hit a Soft Landing? ft. Joseph Politano
The New Liberal Podcast
The Volcker Recession
The Volcker shock is what a lot of people look to as like the defining moment for the Federal Reserve, for better or for worse. It ushered in the period of central banks thinking of inflation as a nominal phenomenon, as a monetary phenomenon. And it also induced this period where most high-income nations had their central banks get inflation down to very low levels or down to target levels and keep them there for long periods of time.
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