In the 1970s they also thought they had beat #inflation in 1974-1975, they lowered #rates and then inflation roared back to even higher levels in the late 1970s.
Inflation on came down in early 1980s because of two factors.
1) massive new oil (energy) supply from Alaska, Gulf of Mexico, North Sea and huge new fields in Mexico coming online.
2) 18% interest rates crushed the economy.
Source: Wall Street Silver
