> It was inflation that did him in, not his governance
And that was mostly hanging around from earlier oil shocks and the spending on Vietnam. He did the right thing by choosing Paul Volker to be Fed chair. In Carter's interview of Volker he asked what he would do to bring down inflation. Volker replied that he would significantly raise interest rates. Volker figured that he didn't get the job based on this honest response and was surprised when Carter picked him.
And that was mostly hanging around from earlier oil shocks and the spending on Vietnam. He did the right thing by choosing Paul Volker to be Fed chair. In Carter's interview of Volker he asked what he would do to bring down inflation. Volker replied that he would significantly raise interest rates. Volker figured that he didn't get the job based on this honest response and was surprised when Carter picked him.