Tax Review: Monetary Discipline and the Fight Against Inflation

June 1, 1980

Download Tax Review: Monetary Discipline and the Fight Against Inflation

Volume XLI No. 6

Executive Summary
Economic history clearly demonstrates, economist Paul Volker says, “that the inflationary process cannot be ended without monetary discipline as a key policy ingredient.” But the Chairman of the Federal Reserve Bank emphasizes that it is the three areas of “inflation, energy, and productivity that must remain the continuing focus of policymaking.” This issue of Tax Review is based on remarks by the author presented before the 60th Annual Conference of the National Association of Mutual Savings Banks on May 14, 1980.


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