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Politics : Formerly About Advanced Micro Devices

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To: Brumar89 who wrote (903243)	11/27/2015 11:12:08 PM
From: RMF	Read Replies (1) of 1576167

You're talking about the prime rate but the FED doesn't directly control the prime rate. The FED and Volcker controlled the Federal Funds Rate. Volcker raised the Federal Funds Rate to 20% in June 1981 which was the High during Volcker's tenure. A lot of farmers and people in the construction industry considered 20% a little excessive. Whether things would have been any different if Carter had been re-elected is only conjecture but I have a feeling that Carter probably would have tried to get Volcker to not squeeze so hard.

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