When he was appointed in 1979, Federal Reserve chair Paul Volcker maniacally focused on reducing inflation, whereas a healthy economy is built from a handful of equally important inputs. So, he did poorly for both the Carter and Reagan administrations. All the same, the "impeach Volcker" movement never gathered enough steam at any particular point in time and we had to wait all the way till 1983 for his crappy 4-year term to finally, finally expire.
Maybe an ATL in which foreign capital flows into the U.S. due to Volcker's higher interest rates? And perhaps combined with Reagan being more successful at his selling tax cut proposals to Congress. We might get a stimulatory, almost Keynesian effect where GDP grows at a respectable 3% yearly rate, even at the cost of rather high deficits. Maybe. If someone wants to explore this particular side branch, please have at it.