Was this not also the beginning of the Fed holding down interest rates? Gold is ... | Hacker News

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motohagiography on Nov 23, 2020 | parent | context | favorite | on: WTF Happened in 1971? (2019)

Was this not also the beginning of the Fed holding down interest rates? Gold is one part of it, but rates have declined fairly steadily since then.

AnimalMuppet on Nov 23, 2020 [–]

That was 1980, with the Volcker Fed.

From at least World War II to 1980, we had cycles of recessions and recoveries. Each cycle had higher inflation (at corresponding points in the cycle). Since 1980, each cycle has lower inflation, but higher unemployment.

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