Opinion of Paul Volcker

[A18]

Horrible person for trying to use monetary policy to re-elect Carter

[dazzleman]

Broke the back of inflation.

And if he tried to re-elect Carter, his efforts were very well disguised.  He initiated a tight money policy in the year before Carter's re-election bid, effectively causing an economic downturn as the president headed for re-election, with the positive results coming in the form of much lower inflation long after Carter was defeated.

With that kind of help for his re-election campaign, Carter hardly needed an opponent.

[A18]

He initiated a tight money policy in the year before Carter's re-election bid...

In the five months prior to the election, the Fed began pumping out money more rapidly than any other period since World War II.