Volcker under Nixon

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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It's not my area of expertise, but I'm under the impression that Volcker was never in favor of the gold standard. I can't see him taking a job that requires him to save it. Am I wrong?
 
It's okay :)

So going back to the topic, so yeah, Volcker was not in favor of the gold standard, as he's monetarist. So what would be the effects of hiring him in 1969 instead of 1979?
 
Although there will be a certain inflation, He could probably control it, in the after math of oil shock 1. I think if the man from yorba linda endures Laos and Vietnam will have a fighting chance which could improve morale, in the country as a whole
 
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?

Nixon was convinced that William McChesney Martin had caused his defeat in 1960 by too-tight monetary policies. He definitely does not want a "squeeze the economy to defeat inflation" man at the Fed. https://www.alternatehistory.com/fo...prevent-the-recession-and-elect-nixon.398306/
 
Here at Alt History, we do seem to have a tendency to sing hymn and hosannas and praise Paul Volcker to the skies!

I agree with you on the factual matter that Volcker's monomania against inflation was the single biggest contributing factor to the 1982 recession, although like anything in economics of course there were multiple causes. And I use the word monomania because we're always trying to achieve multiple goals at the same time, or at least we should be.
 
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This is a 2012 "Sunday Morning" interview and retrospective with Paul Volcker. He seems to be a pretty likable fellow to me. At 6'8" in height, as the show says, he's an imposing figure both literally and figuratively. He's a colorful figure, with a pretty good sense of humor.

But doesn't mean he's right about everything.

In particular, look at the part where the farmers protest interest rates being hiked in excess of 20%. Now, there is a temptation to say Paul is smart and the farmers are stupid. But that's not necessarily the case.
 
Yes, he was.

Didn't stop Reagan from keeping him in for most of his administration, though.

Still, I don't think Nixon would have appointed him. While presidents do re-appoint Chairmen of the Fed of the opposite party (like wit Volcker and Greenspan), they don't appoint non-incumbents as chairmen of the opposite party.
 
Still, I don't think Nixon would have appointed him. While presidents do re-appoint Chairmen of the Fed of the opposite party (like wit Volcker and Greenspan), they don't appoint non-incumbents as chairmen of the opposite party.

Point taken, I guess.
 
So if Nixon will not hire Volcker, what then must he and his administration do to kill inflation under Keynesian rules?

Also, will Nixon will order a massive nuclear power plant construction program after the First Oil Crisis?
 
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