Word: volckerism
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Dates: during 1980-1989
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Despite mounting pressure from business leaders, congressmen, and administration officials, Volcker stayed. Eventually, his course led to recovery...
...Federal Reserve under Volcker gets an A or maybe an A-plus for having stood its ground during a time when the risk of not doing something far out-weighed the costs of recession," comments Allen Sinai, chief economist for Shearson Lehman Brothers, a New York based investment banking firm...
...Volcker's relations with the president remain smooth. Reagan maps a general direction for the economy, giving Volcker, the technician, a relatively free hand to chart the course, close observers...
...During my two years in Washington, Volcker visited the White House only three times," says Feldstein, who ate breakfast with Volcker every other week before he left the Administration...
Asked whether the president has a strong understanding of the economy, Volcker nearly sidesteps the issue...