The History of the Volker Shock

The year of the so called volker shock. That's when fed char paul volker sent interest rates the roof to tame high levels of inflation. What were the economic and political conditions at the time? Why did volker respond with his shock? And then why has that been so consequential for the past half century, in terms of orher power? Yes, that's a great question. Gust thogh, you know, the history is really important here. I'm an historian, but i don't think it's just my professional bias that makes me think the history is important here. You know, if we go back to the late nineteenth century,. inflation isn't much of a