US Hero Dies Age 92

[Economy 52,932]

https://www.bnnbloomberg.ca/paul-volcker-inflation-tamer-who-set-bank-risk-rule-dies-at-92-nyt-1.1359768

 

Paul Volcker has died at age 92.

 

His name is not well known to the average person because much of his work was behind the scenes or in agencies that get less public exposure

 

Volcker was the head of the Central Bank in the 1980s that came up with monetary policy changes to fix the huge inflation problem the US saw in the 1970s after the US went off the gold standard and went 100% fiat currency

 

Volcker is also the one who promoted and advised on certain regulation reforms for risk taking in private banks to President Obama after 2008 financial crisis tho the Obama administration naturally got most of the credit

[Computer 10,980]

Omg Paul VOLCKER died?

Of the Volcker rule?  Omg.  That's sad.  Truly a titan among the monetary policy set. 

[Economy 52,932]

1 minute ago, Computer said:

Omg Paul VOLCKER died?

Of the Volcker rule?  Omg.  That's sad.  Truly a titan among the monetary policy set. 

I know!

 

Greenspan could be soon too he's old AF

 

But I dunno if I'd consider him as much of a hero on Monetary policy regardless of the crazy long time he served...

 

He started that gradual long term downward trend on interest rates that the economy is increasingly dependent on and can't get out of

 

Trump: "rates are too dam high" at 1.75%. the joke the economy has become