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

1 Faculty News August 20, 2012 ![Bloomberg logo](/sites/default/files/styles/246w/public/assets/images/bloomberg192x144.jpg?itok=yV529lwz)>

Excerpt from [Bloomberg](http://www.bloomberg.com/news/2012-08-20/how-volcker-launched-his-attack-on-inflation.html) -- "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.'"

[Read more](http://www.bloomberg.com/news/2012-08-20/how-volcker-launched-his-attack-on-inflation.html)

Additional coverage appeared in another [Bloomberg](http://www.bloomberg.com/news/2012-08-22/volcker-restored-fed-s-credibility-on-inflation.html) piece.