How Paul Volcker Beat Inflation Of The 1970s [PODCAST]

For much of the 70s inflation was bad. Prices rose at over 10 percent a year. Nothing could stop it. President Gerald Ford tried to cut inflation by asking Americans to spend less.

Gerald Ford's Whip Inflation Now campaign.

NARA

As you might guess, the campaign did not work. Then, a tall man who smoked cheap cigars did something very unpopular. Today’s show: How we beat inflation.

Music: Jon Dix’s “Geometry.”



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