Essentially, yes. An overview is here: http://www.econbrowser.com/archives/2007/02/how_paul_volcke.html http://www.econbrowser.com/archives/2007/02/how_paul_v

Essentially, yes. An overview is here: http://www.econbrowser.com/archives/2007/02/how_paul_volcke.html http://www.econbrowser.com/archives/2007/02/how_paul_volcke.... and the original interview is informative too. (tl;dr: Great Inflation)