Banking Regulation, Booms & Busts, Economic History, Inflation & Deflation, Money & Politics, News, The Fed & Central Banks
Stop Lionizing Paul Volcker and Villainizing Arthur Burns
In a recent Bloomberg column, former New York Fed President Bill Dudley echoes a conventional Fed narrative, contrasting Fed interest rate cycles under two supposedly distinct Chairmen. “Powell will need to find a way to persuade [markets] that he has no intention of behaving like Arthur Burns…