Volcker’s Forgotten 180 Offers the Fed a Key Lesson

I’m Chris Anstey, a senior economics editor in Boston, and today we’re looking at the big mistake the Fed wants to avoid. Send us feedback and tips to ecodaily@bloomberg.net or get in touch on X (formerly known as Twitter) via @economics. And if you aren’t yet signed up to receive this newsletter, you can do so here.

The late Paul Volcker is famous for pushing through decisive — and economically painful — monetary policies as the Federal Reserve chairman more than four decades ago that halted a debilitating surge in the US cost of living.