NPR logo
Episode 664: The Great Inflation
  • Download
  • <iframe src="https://www.npr.org/player/embed/456855788/456855857" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
Episode 664: The Great Inflation

Government

Episode 664: The Great Inflation

Episode 664: The Great Inflation
  • Download
  • <iframe src="https://www.npr.org/player/embed/456855788/456855857" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
Federal Reserve Board Chairman Paul Volcker listens to a question as he appears before the Senate Banking Committee.
Chick Harrity/AP
Save this episode to Stitcher: Listen to this later on Stitcher

For much of the 70s inflation was bad. Prices rose at over 10 percent a year. Nothing could stop it. President Gerald Ford tried to cut inflation by asking Americans to spend less.

Gerald Ford's Whip Inflation Now campaign.
NARA

As you might guess, the campaign did not work. Then, a tall man who smoked cheap cigars did something very unpopular. Today's show: How we beat inflation.

Music: Jon Dix's "Geometry." Find us: Twitter/ Facebook/ Tumblr.

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.