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A Conversation with Paul Volcker main page
  
A Conversation with Paul Volcker
Aired 12/7/2000
Before the economic boom of the 1980's and long before any talk of a "new economy" there was stagflation and malaise. When Paul Volcker ascended to the chairmanship of the Federal Reserve Board in 1979, inflation was out of control, and the economy was limping along. To remedy this, Volcker prescribed harsh measures, implementing a monetary policy that sent interest rates soaring to record levels. A sharp recession followed, but inflation was finally tamed. Since then, the U.S economy has grown in 67 of the last
71 quarters, and inflation has never again approached the levels of the late 1970's.
Read the full transcript
Paul Volcker
Federal Reserve, past Chairman
Originally Aired: 9/7/2000
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