Reagan kept Volcker in the job. The “Volcker Shock” eventually killed off inflation, but also a significant share of US export industries rendered uncompetitive by the overvalued dollar.

Volcker delivered shock therapy, pushing interest rates as high as 20% and driving the economy into recession, notes The Wall Street Journal. "The cost was steep," says The New York Times both to ...

Named after Paul Volcker, the Federal Reserve Chairman who attacked inflation in the 1980s, the so-called "Volcker rule" aimed to restrict banks from speculative trading. The Volcker rule is named ...

Economic activity also dried up due to the sharp rise in borrowing costs, with Mr Volcker bearing the brunt of the blame. After that shock, however, Mr Volcker reduced rates again, to less than 3%.

Carter's presidency was marred by high inflation and economic turmoil. His appointment of Paul Volcker helped curb inflation, ...