Former Fed chair laments US disarray


The US is in “a hell of a mess in every direction”, the former Fed chair Paul Volcker has told the New York Times.

In the interview, which comes just before the launch of his memoir, Volcker explained that the respect for American institutions, including the government, the Supreme Court, the presidency and the Federal Reserve, had all been lost.

Volcker blamed “money” for the loss of confidence in US leadership. “The central issue is we’re developing into a plutocracy.”

The New York Times re

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