Greenspan says Volker made his life as Fed chief easier 07.10.2004 20:32 Zurück Headlines
WASHINGTON (AFX) -- The Federal Reserve's task to keep inflation low over
the past 17 years was made easier by actions taken by former Fed chairman Paul
Volker, said Fed chief Alan Greenspan. "Maintaining an environment of stability
is simpler than restoring the public's faith in the soundness of our currency,"
Greenspan said in a speech prepared for delivery to a conference about Volker's
tenure as Fed chairman. In Oct. 1979, Volker sharply raised interest rates in a
successful attempt to regain control over inflation.
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