Inflation

Price Controls End After Corporate Decontrol Campaign, Inflation Spikes

1946-11-09 00:00:00 +0000 UTC | Importance: 7/10

The Office of Price Administration effectively ends on November 9, 1946, when President Truman removes controls on most consumer goods following intense corporate lobbying and deliberate business disruption. The premature decontrol triggers an immediate inflationary spike that harms consumers while …

Office of Price Administration Harry Truman National Association of Manufacturers U.S. Chamber of Commerce Congress +1 more deregulation corporate-influence inflation price-controls consumer-exploitation

Legal Tender Act Creates Unbacked Greenback Currency Enabling Speculation and Inflation Despite Constitutional Questions

1862-02-25 00:00:00 +0000 UTC | Importance: 7/10

Congress passes the Legal Tender Act on February 25, 1862, authorizing the issuance of $150 million in United States Notes (popularly called “greenbacks” for their distinctive color) to finance the Union war effort after spiraling costs rapidly deplete gold and silver reserves. The …

U.S. Congress Abraham Lincoln Edmund Dick Taylor Wall Street currency fiat-money financial-manipulation speculation inflation +1 more