The Myth of Paul Volcker and the Powerful Fed [Eurodollar University, Ep. 221]

Apr 24, 2022

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Paul Volcker is widely credited in ending the 1970s Great Inflation with stratospheric rate hikes, purposefully pushing the USA into recession. Balderdash! Volcker blinked when rates spiked (secretly trying to unwind them). And it was stratospheric oil prices that brought on recession (as 'all' contemporary accounts agreed).

----EP. 221 REFERENCES----
The Fed Will Do What It Does, and It Won't Matter: https://bit.ly/3Mmj5YT
Economists Criticize Volcker: https://nyti.ms/37yZ2I2
Few Expect Relief From Higher Rates: https://nyti.ms/3Lg6sP2
Banks ‘Profitability Tested: https://nyti.ms/3Ovc9KM
Price Indexes Stir Complaints: https://nyti.ms/3L8pIxz
Schultze and Jackson Differ Over Inflation: https://nyti.ms/3vGp9o6
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7

-----SEE ALL EPISODES-----
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL

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---------THE TEAM---------
Jeff Snider, Head of Global Investment Research for Alhambra Investments. Master of ceremonies, Emil Kalinowski. Illustrations by David Parkins. Audio and video editor, Terence. Episode intro/outro music is "Multidimensional" by Sarah, the Illstrumentalist.

------FIND THE TEAM-------
Jeff: https://twitter.com/JeffSnider_AIP
Jeff: https://alhambrapartners.com/author/jsnider/

Emil: https://twitter.com/EmilKalinowski
Emil: https://www.EuroDollarEnterprises.com

David: https://DavidParkins.com/
Terence: https://www.VisualFocusMedia.com

Sarah, the Illstrumentalist: https://www.epidemicsound.com/artists/sarah-the-illstrumentalist/
"Multidimensional": https://www.epidemicsound.com/track/s0k07RIIz2/