Fed Chair Powell Promises Volker-style 'Shock' to Kick Off Greatest Depression

First published at 11:48 UTC on August 30th, 2022.

In the early 80s Fed Chairman Paul Volker jacked up the interest rates during a mild recession by over 100% to a high of 21%. The result was a lasting recession worse than what we saw in 2007-2008. He did that as shock therapy in order to ready the …

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CategoryNews & Politics
SensitivityNormal - Content that is suitable for ages 16 and over
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