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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?


To: Steve Lokness who wrote (239954)12/15/2013 6:42:35 PM
From: bentway  Read Replies (1) | Respond to of 542148
 
You seem economically clueless, and totally ignorant of what Volker did and why. No point in continuing this conversation.

"Volcker raised the federal funds rate, which had averaged 11.2% in 1979, to a peak of 20% in June 1981. The prime rate rose to 21.5% in 1981 as well."

en.wikipedia.org

Educate yourself.