What Is a "Volcker Moment"?
We are in the final exam of the "Turkish Economy" course at Mülkiye; If I remember correctly, we wanted to measure our other information with a single 70-point question, and with small 5-point questions in the remaining 30-point slice. One of those little 5-point questions is "Who is Paul Volcker?" was. Who is Paul Volcker? Paul Volcker headed the Federal Reserve from 1979 to 1987. Paul Volcker took the stage again after the 2008 crisis. He also contributed to the way out of the crisis in the Obama administration. Volcker proposed the rules on the inability of commercial banks to make certain financial investments and use funds in the field of investment banking in the USA, and this was called the "Volcker rule". What Is a Volcker Moment? The year is 2022; Economic circles in the USA and around the world are talking about the "Paul Volcker moment". During the energy crisis in 1973, inflation climbed to 12% in 1974 and fell to 5% in 1976. In t...