The Federal Reserve’s scramble to contain red-hot inflation resembles nothing so much as the late 1970s, when G. William Miller led the central bank. Miller is the last Fed Chair – before Jerome Powell – who wasn’t an economics PhD. He lasted one year. His successor, Paul Volcker, raised the Fed’s benchmark rate at an unprecedented pace to rein in inflation, a painful process that did set the foundation for decades of declining interest rates and generally consistent growth. Dr. Komal S. Sri-Kumar, president of Sri-Kumar Global Strategies, thinks an approach similar to Volcker’s is needed now. But he sees no political will – inside the Eccles Building, on Capitol Hill, or in the White House. Sri-Kumar talks with Real Vision’s Ash Bennington about how we may be headed for “some form of crash landing,” including a serious stock market correction, a recession, and, ultimately, stagflation. He does offer the example of Germany under Chancellor Gerhard Schroder as the model for a way out. Recorded on February 7, 2022.