The ghost of Paul Volcker is haunting Washington at the moment after the US Federal Reserve introduced it was stepping up the battle in opposition to inflation with an aggressive 0.75 proportion level improve in rates of interest.
4 a long time in the past – the final time the annual improve within the American value of dwelling was increased than its present 8.6% – Volcker grew to become legendary because the central banker who was ready to drive the world’s largest financial system into deep recession to squeeze inflation out of the system.
Now the current chair of the