Inside an FOMC Meeting: How the Fed Actually Decides

Beginner Investing • 7 min

In 1981, Fed Chair Paul Volcker raised interest rates to almost 20% — and deliberately triggered a recession to do it. Inflation was out of control, and Volcker decided the only cure was to make borrowing so expensive that the economy had to slow down. It worked, and it was brutal — unemployment spiked, and Volcker got death threats. But inflation broke, and stayed low for the next 40 years.That's the kind of…

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