Word: volckerism
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...debts.'' Last week the country scrambled to avoid a financial collapse. The Central Bank intervened in currency markets to push the peso back to 660. De la Madrid appeared on TV, stronger and more simpatico than usual, to allay doubts about his wavering government. Paul Volcker, chairman of the U.S. Federal Reserve Board, made a secret trip to Mexico to try to expedite a loan package for the roughly $6 billion that the country needs to continue servicing its foreign debt. Though a rescue loan now seems likely, the conditions set by financiers will probably be tough. Commercial banks have...
...leadership that better understood the central bank's role in the inflation process and that sustained anti-inflationary monetary policies would actually work. Beginning in 1979, such policies were implemented successfully--although not without significant cost in terms of lost output and employment--under Fed Chairman Paul Volcker. For the Federal Reserve, two crucial lessons from this experience were, first, that high inflation can seriously destabilize the economy and, second, that the central bank must take responsibility for achieving price stability over the medium term...
...reason is the performance of monetary policy. The Federal Reserve and other central banks have learned the lessons of the 1970s. Because monetary policy works with a lag, the short-term inflationary effects of a sharp increase in oil prices can generally not be fully offset. However, since Paul Volcker's time, the Federal Reserve has been firmly committed to maintaining a low and stable rate of inflation over the longer term. And we recognize that keeping longer-term inflation expectations well anchored is essential to achieving the goal of low and stable inflation. Maintaining confidence...
...economy. Usually it's not so much. But every once in a while, like when Franklin Delano Roosevelt was elected in 1932 and Reagan in 1980, the effect can be dramatic. Reagan's policies, together with some luck and the inflation-killing zeal of Federal Reserve Chairman Paul Volcker, helped the U.S. economy break out of its 1970s malaise into a new era of flexibility, innovation and growth. And this era didn't end when Reagan left office in 1989. Subsequent Presidents, even Democrat Bill Clinton, followed more or less in Reagan's footsteps...
...Tuesday, former Fed Chair Paul A. Volcker publicly chided Bernanke for the Fed’s recent interventions, which he called excessive...