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The Nixon Shock: Martin’s Fed vs. The World (Part 2)
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On the journey towards President Nixon’s fateful decision on August 15th, 1971 to suspend dollar-gold convertibility—a decision that would forever change the global economy—we meet William McChesney Martin Jr, the longest-serving Fed chairman in history and arguably the most consequential economic US policy maker since Alexander Hamilton.
After negotiating Fed independence as an Assistant…