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https://www.youtube.com/watch?v=XfYuA4OL82U
Watch the above videos. Once you have done this respond to each of the bullets below in at least 2-3 sentences.
- What is Stagflation and what factors contributed to the stagflation of the 1970s?
- How did Volker deal with the high inflation?
- Is the Fed independent? If so, how do the FED leaders ensure they maintain independence?
- How does Milton Friedman establish his view that inflation is a monetary issue?
- According to Friedman, do trade unions cause inflation by pushing up wages and the cost of production?
- After you post your narrative, reply to at least two other student’s comments. Explain why you agree, or better yet, find others that take a different position and explain why you disagree.