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Essay / Research Paper Abstract
This 14-page paper discusses the tenures of U.S. Fed chairmen Paul Volcker and Alan Greenspan, as well as general economic terms. Bibliography lists 4 sources.
Page Count:
14 pages (~225 words per page)
File: D0_MTvolgre.rtf
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Unformatted sample text from the term paper:
the most part, the monetary policy decision makers of the latter part of the 20th century. Though economists (depending on their beliefs) either agree or disagree that the Fed and
its policies have any impact on the U.S. economy, theres little doubt that former Fed chair Paul Volcker and current Fed chair Alan Greenspan have had their impact in terms
of monetary policy and Fed policy. Have their policies actually had an impact on the U.S. economy? If so, how? In the
following paper, well try to determine what the answer to this question is by examining certain general education outcome (GEOs) as they pertain to general economics and these two Fed
directors in particular. Though most of the following questions are economic in nature, well attempt to tie them into the economic policies
of both Volcker and Greenspan. The legacy of the Fed directors Before actually going on to answer specific economic questions, it might
be a good idea to first provide a brief overview of the tenure of both Fed directors and what their legacies have been. Paul Volcker was appointed by President Jimmy
Carter in 1979, and none too soon. When Volcker came in to take the reigns, the U.S. economy was in a shambles. Under former directors G. William Miller and Arthur
Burns, the U.S. economy was one of out-of-control inflation, horribly high oil prices and an incredibly weak dollar (Ullman, 2000). Volcker, who had been president of the New York Fed
(and who had had experience with senior Treasury posts under both Democratic and Republican leadership) made decisions that were unpopular at first - he raised discount rates, increased the bank
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