Getting a loan in the early 1980s was a lot more expensive than today. That was the point.
Volcker's victory over inflation in the 1980s is widely credited with more than two decades of mostly steady economic growth that followed.
The Federal Reserve
Words of wisdom from former chairs of the Federal Reserve.
The Big Book
Former Federal Reserve Chairman Paul Volcker and his biographer Bill Silber sit down for an interview on the economy, financial regulation, and why U.S. presidents still call on the former Fed chief.
Banks are still huge, financial scandals still break -- even after the recession revealed flaws in the financial system. A commentator gives his short-and-sweet solution.
There's renewed debate today about the so-called "Volcker Rule." It's part of the Dodd-Frank Wall Street reform passed two years ago. Basically, the Volcker Rule says banks should take fewer risks in the market.
Nearly sixty-seven years after an international conference in Bretton Woods, New Hampshire organized a new financial system, an unofficial...