Episode 664: The Great Inflation
For much of the 70s inflation was bad. Prices rose at over 10 percent a year. Nothing could stop it. President Gerald Ford tried to cut inflation by asking Americans to spend less.
As you might guess, the campaign did not work. Then, a tall man who smoked cheap cigars did something very unpopular. Today's show: How we beat inflation.
Copyright 2021 NPR. To see more, visit https://www.npr.org.