Paul Volcker is one of the leading economic thinkers of our time. He, as Chairman of the Federal Reserve (he was appointed by President Jimmy Carter in 1979 and reappointed by President Ronald Reagen in 1983), was instrumental in leading the United States out of the stagflation of the late '70's and early '80's. It seems that he is one of the leading contenders for the post of Secretary of the Treasury in the Obama administration. I think he is the right man for the job during times like these.
So it wasn't good news this morning to see Chairman Volckers warning this morning in the
Telegraph "Paul Volcker, the former chairman of the US Federal Reserve, has warned that the economic slump has begun to metastasise after a shocking collapse in output over the past two months, threatening to overwhelm the incoming Obama administration as it struggles to restore confidence"
Like the man said
"fasten your seat belts, it's gonna be a wild ride"
Seed Newsvine
Posts
No comments:
Post a Comment