Episode 277: Stagflation Then and Now

Paul Volcker died recently. Most Americans have never heard of him, but he almost single-highhandedly ended the "stagflation" crisis of the 1970s. How? As Chairman of the Federal Reserve, Volcker jacked up interest rates even though the short term pain would be substantial. It was, but the crisis ended and the dollar stabilized.  We are facing a potentially similar crisis in the 2020s, except this time, a Volcker is nowhere to be found. What does this mean for the American economy? I discuss Volcker, "stagflation," and the modern American economy in this episode of The Brion McClanahan Show.

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