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5 Cards in this Set
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- Back
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What was the subject of the "secret" meeting held on October 1979?
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It didn't want any "leaks", didn't want people to react and sell all their bonds
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Who attended the "secret meeting?"
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7 Governors, 4 Presidents of other commercial banks, 1 NY fed
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Who was the chairman of the fed? What was his assignment?
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Paul Volcker was the chairman. His assignment was to bring inflation under control and stabilize the economy
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What were the costs of lowering inflation in the 1980s?
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Higher interest rates and higher unemployment rates
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Explain what bernanke's policy dilemma was in 2008?
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Inflation was high and if they did anything it would remain high, so they just needed to do nothing so it would auto-correct
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