With a recession deepening and the 1982 midterm elections approaching, Federal Reserve chair Paul Volcker was summoned to the Oval Office, where Ronald Reagan was sitting with his chief of ...
John H. Cochrane and Amit Seru of the Hoover Institution think the hyperactive Fed has become too ambitious in its interventions in the economy and social policy. Their proposal is the title of their ...
The Federal Reserve was expected to lower its key interest rate later that month, and Doolittle and his partner hoped the cut would drive down mortgage rates even further. The wait cost them.