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An op-ed by Prof. William Silber on Paul Volcker’s efforts to reduce inflation

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Excerpt from Bloomberg -- "During the first half of August 1978, the dollar sank to new lows against the German mark, a fresh vote of no confidence in America. On Aug. 15, 1978, Volcker told the FOMC, 'I think it’s important particularly in view of the international situation that we correct the misapprehensions about our lack of concern over inflation.'"

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Additional coverage appeared in another Bloomberg piece.