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A comment on U.S. inflation reached a new four-decade high of 8.6% in May. Parent comment

Re:U.S. inflation reached a new four-decade high of 8.6% in May by refurb on Friday June 10, 2022 @11:00AM (#31695137)
He was first appointed to the treasury by Nixon in ‘73 and was instrumental in ending the gold standard.

Then appointed by Carter in ‘79 to the Federal Reserve.

But most of his interest rate tightening happened under Reagan with a peak tightening in ‘81 with fed funds rate at 20%.

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Re:U.S. inflation reached a new four-decade high of 8.6% in May by everybodyknows on Friday June 10, 2022 @11:36AM (#31695638)
Volcker has recounted an incident in which he more or less walked out of a White House meeting with Reagan and James Baker, after Baker tried to order him to lower the discount rate.

https://www.businessinsider.com/ronald-reagan-fed-chair-volc...

Volcker also recalled telling Carter during his interview for the job that yes, he could stop inflation -- but then Carter would not be re-elected. Carter's reply was "Do it anyway."

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Re:U.S. inflation reached a new four-decade high of 8.6% in May by worker_person on Friday June 10, 2022 @11:38AM (#31695662)
That was how stagflation was ended. Its probably what is needed this time around.
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