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37 - The Triumph of Broken Promises w/ Fritz Bartel
Spaßbremse
The Rise of Volcker as Chairman of the Federal Reserve
Volcker was chairman of the Federal Reserve, appointed by Carter. He mostly worked under Reagan of jacking up interest rates and effectively causing a huge recession in the efforts to try to fight inflation. This is where he turns to monetarism, which popularized by Milton Friedman at the time. If he can say that he's only targeting an increase in the mon-, he's controlling the money supply rather than interest rates. Then interest rates can go as high as they want, as the market would send them.
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