Watch the Videos below then answer the following questions. Answers do not need to be too lengthy.
https://youtu.be/SdK_Li6FCic
https://youtu.be/qQjAbHR40nk
What factors contributed to the stagflation of the 1970s?
How did Volker deal with the high inflation?
Did high oil prices cause the stagflation or was it something else?
Is the Fed independent? If so, how do our leaders ensure they maintain the best interests of the public?
How does Milton Friedman establish his view that inflation is a monetary issue?
According to Friedman, do trade unions cause inflation by pushing up wages and the cost of production?
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