In what role is Paul Volcker primarily known?
Nobel laureate
Astronaut
Chairman of the Federal Reserve
Film director
Answer
As the Chairman of the Federal Reserve from 1979 to 1987, Paul Volcker is celebrated for his influential role in controlling inflation in the United States. During his tenure, he implemented tight monetary policies, causing interest rates to rise and subsequently slowing down the economy. Although unpopular at first, these measures effectively curbed double-digit inflation rates, stabilizing the economy and paving the way for future economic growth.
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