Between 1979 and 1982, then-Fed Chair Paul Volcker changed the authorities’ approach to monetary policy. His expectation was that by controlling the amount of money in circulation, the Fed could bring about larger reductions in inflation with smaller increases in idle capacity and unemployment than what traditional Keynesian models predicted.
1979—1982年间，时任美联储主席保罗·沃克尔（Paul Volker）改变了当局的货币政策方针。他的预期是，通过控制流通中货币量，美联储可以在更大幅度地降低利率的同时以比传统凯恩斯主义模型所预测的更小的幅度增加闲置产能和失业。