Keep pulling the thread on Jerome Powell.
The monetary policies of Federal Reserve Chairman Paul Volcker are credited with launching the U.S. economy into a period of low, stable inflation and steady growth known as the 'great moderation'.
As Federal Reserve Chairman in the early 1980s, Paul Volcker confronted high inflation by maintaining a tight monetary policy despite political pressure and a resulting painful recession.
On May 19, 1982, with the unemployment rate above 9 percent, Federal Reserve Chairman Paul Volcker publicly defended his high-interest-rate policy as a necessary measure to restore price stability.