Volcker

But then Ronald Reagan, who oversaw the “Volcker shock” from a Federal Reserve that escalated interest rates and threw the nation into recession in order to end high levels of inflation, was rewarded with a landslide reelection.

Greenberger’s warning about this scenario had been endorsed by no less august a figure than former Federal Reserve Chair Paul Volcker.

One result was then-Federal Reserve Board Chair Paul Volcker presiding over an inflation-killing program of interest-rate hikes starting in 1980.

He appointed the Federal Reserve chairman, Paul Volcker, who, along with Reagan, would get credit for the economic growth of the 1980s.

Human Rights Commissioner Volcker Turk said in a statement at the start of a trip to the region.