"Volcker slammed the brakes on the economy by raising interest rates to 20% " From: Memories of the 1970s haunt the Fed, pushing its aggressive rate moves : NPR
Anyone else remember those days?
My parents loved the rates they got on CDs back then.
Actually inflation started in the mid 1960s, guns and butter times. I started working at the USPTO as a patent examiner in the summer of 1966. If I recall correctly the Federal employees pay scale was increased three times in about one year. I remember I got maybe a 3% raise but the price of my afternoon ice cream snack in the cafeteria went up 30%.
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Last edited by manaboutown; 11-21-2022 at 03:46 PM.
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