Well, by the standards of a lot of countries, by Latin American standards, it wasn't so bad.
More Quotes from Paul A. Volcker:
Well, I started out in the Federal Reserve as a young economist and spent about five years in the Federal Reserve Bank of New York.Paul A. Volcker
You could not buy a house in those days without just assuming that the house was not only a place to live, but it was a good investment, because it was going to keep up with inflation or get ahead of inflation, and it was just - that was America.
Paul A. Volcker
It was the biggest inflation and the most sustained inflation that the United States had ever had.
Paul A. Volcker
Double-digit inflation is a terrible thing - and it got up to 14 or 15 percent on a monthly basis for a while, shortly after I became chairman of the Fed.
Paul A. Volcker
By the time I became chairman and there was more of a feeling of urgency, there was a willingness to accept more forceful measures to try to deal with the inflation.
Paul A. Volcker
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