Greenspan on the Reagan legacy

In a speech on 'The Reagan Legacy' Alan Greenspan of the Federal Reserve said Ronald Reagan saw inflation as a danger, and as President, afforded my predecessor Paul Volcker the political support that is so essential to a central bank when its pursuit of long-term stability risks some worsening in near-term economic activity. That support began the process that has led today to the virtual elimination of inflation from the U.S. economy.

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