Dollars and Jens
Friday, August 06, 2004
Today in History
On August 6, 1979, Paul Volcker formally became the chairman of the Federal Reserve's Board of Governors. In the next couple years he help rein inflation in from the 20% range to the 4 and 5% range, pretty much the upper limit of where it has been ever since. Much that has gone well with the economy since then can be partially credited to his courageous actions. So happy 25th anniversary of the introduction of competent management to the Federal Reserve.

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