The Fed chair famous for the big credit squeeze and double-digit interest rates of the early 1980s passed away on December 8, 2019 at age 92. (I’m sure that escaping from the prison of cigar addiction bought him many more years.)
At the time I heard about the death of Paul Volcker, I thought it would be ironic if it coincided with the end of an era of declining inflation and interest rates. Sure enough, it appears that it’s exactly what’s happening. It’s almost as if the Inflation Monster was waiting for his passing to strike again.