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Volcker was appointed by Carter, not Reagan.

He was first appointed to the treasury by Nixon in ‘73 and was instrumental in ending the gold standard.

Then appointed by Carter in ‘79 to the Federal Reserve.

But most of his interest rate tightening happened under Reagan with a peak tightening in ‘81 with fed funds rate at 20%.

Volcker has recounted an incident in which he more or less walked out of a White House meeting with Reagan and James Baker, after Baker tried to order him to lower the discount rate.

https://www.businessinsider.com/ronald-reagan-fed-chair-volc...

Volcker also recalled telling Carter during his interview for the job that yes, he could stop inflation -- but then Carter would not be re-elected. Carter's reply was "Do it anyway."

That was how stagflation was ended. Its probably what is needed this time around.

Reagan stacked the Fed with loyalists and forced Volcker to resign.

How does the President “force” someone to resign when they are in charge of selecting the person for that role?

The Fed Chair cannot be removed by the President once installed. He was pressured by other means.

They have to be renominated every 4 year term.

He served out his 2nd term and was not renominated.

Not arguing that it wasn’t political, it clearly is even based on the Biden nomination.

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