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Politics : Idea Of The Day
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To: gerard mangiardi who wrote (28826)9/15/1999 4:10:00 PM
From: Lee  Read Replies (1) of 50167
 
GM,.Re:.volker caused as much inflation as he stopped

As usual there are two sides to every opinion and here they are. I haven't any opinion regarding Volcker.

senate.gov
From the Senate record of the debate on the 1983 reappointment of Volcker as Chairman of the Fed.

Those favoring confirmation contended: Mr. Volcker has done an extremely good job under some very difficult circumstances imposed on him by the fiscal policy of Congress. Unfortunately, politicians always try to find a scapegoat for bad times. Many pundits have recently blamed Mr. Volcker for the recession, high interest rates, unemployment, and the Democrats' losses in the 1980 elections. The record shows, however, that Mr. Volcker is the best man for an unenviable job.

Cheers,

Lee
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