Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: dalereed

Interest rates were 12 to 13% when Volker took over the Fed, They rose to 20 during his tenure, which was started under the end days of Carter’s Malaise administration. When he left the Fed, after being reappointed by Reagan, rates were 7.5%.

In the process of raising rates during the early 80’s inflation went from 13% to 3% in less than 2 years, helping the recovery that soon followed.

Are we better off or nearer to recovery now with interest rates at zero than we were then with them at 21%?


5 posted on 02/23/2009 9:03:55 PM PST by Hillary's Folly (Imagine there's no Hillary. It's easy if you try.)
[ Post Reply | Private Reply | To 4 | View Replies ]


To: Hillary's Folly

No but we are going to have to go into a deep depression before any recovery, it’s years away.


7 posted on 02/23/2009 9:10:47 PM PST by dalereed
[ Post Reply | Private Reply | To 5 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson