Respuesta :
As, Paul Volcker held on to the position of the Chairman of Federal Reserves Board of governors, made "control on inflation", as the major aim of his policies.
According to the Friedman rule (economic theory), they had focused upon restricting the money supply, so that people consume less, by a psychological effect of low money, which led to a recession, and inflation lowered down.
Paul Volcker, had been credited for ending up the never ending inflation in the United states during 1970s, by applying the Friedman rule and many other major policy frameworks to control increasing inflation in the United states.
He had served as the 12th Chairman man of the Federal reserves, and also as the President of the Federal Reserves Bank of New York.
He had been awarded by Jefferson awards, The Heinz Award for giving Greatest service by an elected official, for his works and framed policies in his tenure to control inflation.
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