3 ms·
What changed in the 1970s to go from flat prices to uponly?
by hanniabu 3y ago
What changed in the 1970s to go from flat prices to uponly?
- AnimalMuppet 3y agoNon-log-scale graphs? The 1970s were not an era of flat prices. They were an era of very high inflation. (14% a year, anyone? I was there. I'm pretty sure that people who are talking like the last year or two are the worst were not there in the 1970s.) What changed was 1979-1981. The Fed pushed interest rates to the stratosphere. Inflation came down and stayed on a downward path from 1981 to 2020.