“It was a nasty, nasty fall, but Volcker stuck the landing to the point that many parts of the macroeconomic landscape could be changed and tilted toward prosperity and markets,” said Paul McCulley, an economist and senior fellow at Cornell Law School.What would a full reverse Reagan economy look like over the next few years?Over the course of 2022, inflation starts to fade. Consumers shift some of their spending back toward services and away from physical goods, corporate supply chain managers figure out how to adjust to whatever changes in demand prove permanent, and demand moderates as the Fed moves toward somewhat higher interest rates and Congress does not repeat its pandemic spending bi …
