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7min chapter
Blinder Speaks Out on Fed Day
Moody's Talks - Inside Economics
Nixon, Burns, and Fed Independence
This chapter explores the compromised independence of the Federal Reserve during the Nixon administration, particularly through Richard Nixon's pressure on Arthur Burns to keep interest rates low ahead of the 1972 election. It examines the historical context of inflation in the late 1960s and critiques the misconceptions held by policymakers in the 1970s regarding inflation expectations and economic policy.
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Discover
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