As I suggested, Reagan could make the mistake of dumping Volker.
Volcker's term wasn't up until August 1983. By then, the recovery was underway and it is really hard for me to see any plausible successor aborting it within a year, especially since unemployment was still high and inflation low. Even if for some reason a new Chairman wanted to raise interest rates at that time, I doubt that he could get the Board to back him.