| ▲ | txru 3 days ago | |
I heard Volcker speak once, you could still see him remembering how hated he was for those years of the Volcker Shock on his face. Strained and a little sad. | ||
| ▲ | cs702 3 days ago | parent | next [-] | |
As he raised the federal fund rate to 20%, Volcker became widely hated indeed. Businesses and consumers suffered because of his actions. Politicians of course tried to take control of the Fed. They also tried to fire him. At one point he needed Secret Service protection. Here's an article from the 1980's about it: https://www.latimes.com/archives/la-xpm-1987-04-05-fi-492-st... | ||
| ▲ | alexqgb 3 days ago | parent | prev [-] | |
I watched an interview with him several years ago. The brother was sipping from a glass of whisky on the rocks the whole time. I fully get it. | ||