Word: volckerism
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...average rate of price increases has tumbled from 13.5% in 1980 to around 5.5% this year, a reduction faster than even the President dared to predict as recently as February 1981. Many economists think that primary credit should go to the tight-money policy of Federal Reserve Chairman Paul Volcker. But Fed officials freely confess they could not have carried out that policy without Reagan's support...
...current slide has had much more effect. As Reagan constantly reminds the nation, the rate of price increases has tumbled from 12.4% in 1980 to 5.1% so far this year, an accomplishment that few economists would have thought possible two years ago. A major reason is Paul Volcker, chairman of the independent Federal Reserve Board (and a Carter appointee). Volcker has been tenaciously holding down the growth of the money supply, thereby starving inflation of monetary fuel. No matter: Reagan has consistently supported Volcker and is entitled to share in the credit...
...tight-money policy so that the economy could begin growing more rapidly. Said one official somberly: "We could not afford to wait another five or six weeks." Although he insisted that this was only a minor technical change with "zero policy significance," Federal Reserve Board Chairman Paul Volcker confirmed the shift during a weekend meeting of business leaders in Hot Springs...
...Wall Street investors, of course, the easing interest rates were visible proof that there had been a shift in the policy adopted by Volcker three years ago this month. At the time, the Fed chairman had declared that he would henceforth place less importance on regulating the level of interest rates in the economy and attempt more directly to control the growth in money. He argued that such a program was essential for bringing down the runaway inflation that was destroying the value of the dollar abroad and creating chaos in the U.S. economy...
Perhaps the most critical unknown in the domestic economy remains the future cost and availability of money. Under Federal Reserve Chairman Paul Volcker, the U.S. for the past three years has pursued a policy of slowing money growth in an effort to curb inflation. But tighter money has collided head-on with strong demands for credit from both business and Government. The result: interest rates have gone to the highest sustained levels in more than 100 years...