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Paul Volcker Flashcards | StudBud

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Paul Volcker

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Questions 11

Answers

1
What year was Volcker taken out of retirement by Obama?
1998
2014
2007
2008
2
What did the Dodd-Frank Wall Street Reform and Consumer Protection Act do?
Gradual reduction in the printing of new currency notes and coins.
Established a new national savings lottery system.
Mandated the phasing out of physical currency.
Addressed weaknesses in the financial system that made this crisis happen
3
The Iranian revolution in 1979 reduced the oil supply, causing the price of oil to increase (supply shock 1979).
True
False
4
What city was he born in?
Portland
Yinchuan
Cape May
Soda Springs
5
Which of these about the volcker rule is correct?
Intended to boost efficiency and security across the financial sector
To enhance cybersecurity and tech innovation in financial institutions
Applies to all national and international banking operations.
Stopped banks from proprietary trading or investing in hedge funds
6
He had 4 brothers.
False
True
7
What year was he appointed chairman of the FED?
1967
1962
2000
1979
8
Reagan agreed with Volcker the moment he proposed his strategies to mitigate inflation.
False
True
9
What were his main actions as chairman?
Monetary policies aimed at economic growth disregarding long-term stability
Prioritized deregulation of financial institutions
Focused on lowering unemployment over controlling inflation
Wanted to expand the money supply without increasing inflation
10
How did Volcker mitigate the inflation in the U.S. during the supply shock of 1979?
He strengthened the dollar against foreign currencies.4
Reduced inflation like raising interest rates and reducing money supply
Volcker set price controls on goods.
He implemented tax cuts.
11
In the short term, his policies produced high unemployment and slow economic growth.
False
True