Fed Chairman Paul Volcker did a good job killing inflation in the US in the early 1980s. Though it caused a recession in 1982, it contributed to the recovery of the US economy soon afterwards. Now what if he was hired a decade earlier by Nixon, putting him in charge of leaving the gold standard and completely killing inflation in the years 1974-75 (we also assume that Iran reforms itself, thus no Second Energy Crisis)? Is this possible?
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