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Hot Topic Hawke’s Bay
Hot Topic Hawke’s Bay
Economy Matters
3 mins to read

Do we need another Saturday night special?

ANALYSIS: Paul Volcker’s legendary attack on inflation led to deepest recession.

NBR columnist John McDermott speaks with Jonathan Mitchell.

On Saturday October 6, 1979, Paul Volcker held a special meeting of the Federal Open Market Committee (FOMC), the body that decides on monetary policy in the United States.

The meeting remained secret until that night when Volcker called a rare evening press conference. The concealment was

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John McDermott Thu, 07 Jul 2022
Contact the Writer: john.mcdermott@motu.org.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
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Do we need another Saturday night special?
Economy Matters,
94700
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