Paul Volcker becomes Fed chairman
1979 · Event
Carter appoints the inflation hawk whose punishing interest rates break inflation at the cost of a deep recession.
On these timelines: Economic History, USA, Master
More from Economic History
- Adam Smith (1723)
- Keynes publishes The General Theory (1936)
- Bretton Woods conference (1944)
- Croesus introduces the first bimetallic coinage (550 BCE)
- 1973 oil crisis (1973)
- New Deal (1933)
- Marshall Plan (1948)
- Nixon ends the gold standard (1971)
Around 1979
- Chernobyl disaster (1986)
- Apollo 11 moon landing (1969)
- Iranian Revolution (1978)
- Watergate scandal (1972)
- Yom Kippur War (1973)
- Invention of the World Wide Web (1989)
- Birth of hip-hop (1973)
- Queen's Bohemian Rhapsody (1975)
- Night Fever (Bee Gees) (1978)
- Another Brick in the Wall (Part II) (Pink Floyd) (1979)