Includes descriptive metadata provided by producer in QuickTime movie file: "Politics, Economics and Social Issues - Video - Paul Volcker talks about the economic crisis." By Vanderbilt University. Paul A. Volcker, senior economic advisor to President Obama and former chairman of the Federal...

The dollar’s depreciation during the early floating rate period, 1973–1981, was a symptom of the Great Inflation. In that environment, sterilized foreign exchange interventions were ineffective in halting the dollar’s decline, but they showed a limited ability to smooth dollar movements....