Inflation Woes Cry for Reagan-Volcker, but We’re Stuck With Biden-Burns

It’s noteworthy that Jay Powell said he wanted to be like Paul Volcker. Sorry, Jay, you’re really more like Arthur Burns, who pumped up the money supply and destroyed the dollar in the ’70s.

President Reagan and Paul Volcker at the Oval Office December 14, 1981. Via Wikimedia Commons

After speaking yesterday to a group of Washington business economists, the Federal Reserve chairman, Jay Powell, had a revealing back and forth with reporters. I want to explore this. Inflation is the no. 1 problem in the country. 

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