A reader asks "What Forced Nixon to Close the Gold Window in 1971?" The answer is called "Nixon Shock". Nixon wanted to fight the war in Vietnam, not raise taxes, and not hike interest rates to finance it. Arthur Burns, not Volcker was at the Fed.
A reader asks "What Forced Nixon to Close the Gold Window in 1971?" The answer is called "Nixon Shock". Nixon wanted to fight the war in Vietnam, not raise taxes, and not hike interest rates to finance it. Arthur Burns, not Volcker was at the Fed.