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Posts published in “Paul Volcker”

Beijing Walks Tightrope on Domestic Housing Market

Commentary In late 1979, then-Federal Reserve Chairman Paul Volcker announced a bold plan to get rid of the high inflation that had plagued the U.S. economy for much of the 1970s—by eventually raising interest rates to 20 percent. The move sent the U.S. economy spiraling to a severe recession for the subsequent few years, but […]