Paul Volcker was the last goy fed chairman and he had to be the hated "tough guy" who raised rates up to like 13% to end the runaway inflation plus recession (known as stagflation) that was experienced thru the 70s and came to a peak under Carter. As Volcker raised interest rates to unprecedented highs, eventually the dollar strengthened. Lots of this also had to do with the price of oil falling, probably because this same time period (early 80s, Reagan's first term) was when Saudi oil production came online, so the oil disruption from the Iran-Iraq war no longer mattered, and all those oil crisis-es in the 70s never happened again... until the next happening most likely
US inflation, which peaked at 14.8 percent in March 1980, fell below 3 percent by 1983. The Federal Reserve board led by Volcker raised the federal funds rate, which had averaged 11.2% in 1979, to a peak of 20% in June 1981.
https://en.wikipedia.org/wiki/Paul_Volcker
Paul Adolph Volcker Jr. is an American economist. He was Chairman of the Federal Reserve under Presidents Jimmy Carter and Ronald Reagan from August 1979 to August 1987.
Born: September 5, 1927 (age 90), Cape May, NJ
Height: 6 7
Party: Democratic Party
Education: London School of Economics and Political Science (1951–1952)
Books: Changing Fortunes, The rediscovery of the business cycle,
hey why does it say "IRAN" and Iran is in gold on the map you posted? also I am a big fan of the Boer history I know about but I get confused because Boer means farmer, right? But its also its own ethnic group.