What Happened in the Seventies?

The fed pretty much lost control of inflation. They no matter what they tried to do, even on t even with physical help therewere just, they couldn't get it under control. A lot of people would say that it induced the recession. But i regardless, there was mass of tightening. There was a recession, pretty severe recession, in the early eighties,. Because they had to do that in order to get inflation back under control.