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Paul Volcker: “The only number that works is zero”

New Books in Economic and Business History

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The Legacy of Paul Volcker

This chapter examines the transformative monetary policies during Paul Volcker's chairmanship of the Federal Reserve, focusing on inflation management and the move towards monetarism. It highlights the historical context of interest rate strategies, tensions within economic advisory circles, and the political pressures Volcker faced. The discussion reflects on his lasting impact on economic policies, showcasing diverging viewpoints from key figures in the field.

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