Throughline The Mystery of Inflation
Aug 4, 2022
Inflation is affecting everything from gas prices to groceries, leaving many feeling the pinch in their budgets. Personal stories from Lemon Grove highlight the emotional toll of rising costs. A historical look reveals how past U.S. governments have tackled inflation, including a notable community rally in Queens and President Nixon's surprising televised address to freeze prices. The evolving role of the Federal Reserve and its interactions with political leaders like Clinton and Greenspan add layers to the complexities of managing economic stability.
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Housewives as Price Control Enforcers
- During and after WWII, housewives became "price control vigilantes."
- They inspected stores, reported overcharges, and ensured fair pricing.
OPA's Role in WWII Inflation Control
- The Office of Price Administration (OPA) was established to combat inflation during WWII.
- They set price caps and implemented rationing programs to manage scarce goods.
Rationing During WWII
- Rationing booklets controlled individual purchases to manage limited supplies.
- Propaganda campaigns promoted rationing as patriotic duty.