Macroeconomics 7: The Fed & Volcker's Socks
Planet Money Summer School
Fed Chairman Paul Volker - Is That Really the Best Job?
President Carter picked Paul Volker to be chairman of the Federal Reserve Board. At this moment, Volker is running the New York Fed like a branch. But this is the top job. This is a big promotion. And sometimes too much money can cause inflation. That is not the kind of thing a president likes to hear.
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