Paul Volcker

Lowest Mortgage Rates Since 1971 Are Here Now (CHART)

Rate shoppers and watchers should note that the lowest rates on official record are here now. The chart below shows rates from June 2010 back to April 1971, when Freddie Mac started officially tracking 30 year mortgage rates. The high was in October 1981, when then Fed chairman Paul Volcker was hiking rates to battle

Former Fed Chair Paul Volcker Is Right About Bank Reform

We missed this BusinessWeek interview with Paul Volcker over the holidays but after reading it, we’re in his corner on bank reform and said something very similar earlier in December when McCain proposed reinstating Glass Steagall. It’s just that Volcker is much more definitive about it. He clarified that he’s not advocating an outright return

Lowest Rates On Official Record Are Here Now (chart)

Make no mistake: the lowest rates on official record are here now. The chart below shows rates from December 2009 back to April 1971, when Freddie Mac started officially tracking 30 year mortgage rates. The high was in October 1981, when then Fed chairman Paul Volcker was hiking rates to battle inflation (more on this

Bernanke: Villain Now, Hero Later?

A Marketwatch story today said that “Bernanke may set the modern-day record for senators who oppose his nomination. The record is held by Paul Volcker with 16 ‘no’ votes in 1984.” Remember that Volcker was dealing with unprecedented inflation levels during his term leading up to 1984 and hiked rates massively to fight the inflation.

Bernanke: Villain Now, Hero Later?

A Marketwatch story today said that “Bernanke may set the modern-day record for senators who oppose his nomination. The record is held by Paul Volcker with 16 ‘no’ votes in 1984.” Remember that Volcker was dealing with unprecedented inflation levels during his term leading up to 1984 and hiked rates massively to fight the inflation.

Paul Volcker’s Legacy, 30 Year Anniversary of Floating Rates

Today is the 30th anniversary of the Fed rate system as we know it. After their October 6, 1979 FOMC meeting, the Fed announced a drastic change to monetary policy. Up until that time the money supply fluctuated with business cycles and rates were relatively fixed—the Fed Funds Rate was only allowed to float about