Mostly 70s, not 80s. Paul Volcker put an end to it – along with Carter's reelection chances.
Mostly 70s, not 80s. Paul Volcker put an end to it – along with Carter's reelection chances.
Interest rates peaked in late 1980 as Volcker engineered a recession-filled end to inflation, and pretty much 1980-1983 were the ugly stagflation years.
2/ Prior to 1980, from 1975-1979, economic growth was fairly robust, following a fairly ugly economy in 1973-74 which was the hangover from Nixon's misguided wage-price controls. Most people only remember the early 80s.
Well, my recollection is that it was constant news in the 70s. The Nixon wage-price controls were terrible, of course, but the oil shocks of 1973 and 1979 also had a huge impact. I heard much less about it in the '80s, but perhaps the media was already in the tank for Reagan.