>>> [EMAIL PROTECTED] 4/13/2005 12:38:14 PM >>> the "Volcker shock" was the big increase in the exchange rate of the dollar and world interest rates in the early 1980s that resulted from Volcker's tight money/anti-inflation policies.
On 4/13/05, Charles Brown <[EMAIL PROTECTED]> wrote: > CB: What is the Volcker shock ? -- Jim Devine <<<<<>>>>> recall that volcker was appointed by prez carter in 79, response to financial 'community' criticism of administration's anti-inflation policies and financiers' desire for higher interest rates to prop up dollar on international markets... volcker assumed fed chair by announcing break with established practices, board would no longer directly manipulate interest rates, rather, it would seek to control growth of money supply... by appointing volcker and embacing stringent cuts in 1980 budget proposal, carter put into place economic policy sacrificing employment to control inflation, prelude to reagan... michael hoover -------------------------------------------------------------- Please Note: Due to Florida's very broad public records law, most written communications to or from College employees regarding College business are public records, available to the public and media upon request. Therefore, this e-mail communication may be subject to public disclosure.
