William Martin is the longest-serving Federal Reserve chief, having held the role from 1952 to 1970. In 1964, Lyndon Johnson, the fourth of Martin’s five presidents, enacted fiscal stimulus only to see the US central bank resist pressure to keep interest rates low.
In 1965, Johnson upped the bullying. The president summoned Martin to his Texas ranch where Johnson ‘shoved him around his living room, yelling in his face: “Boys are dying in Vietnam and Bill Martin doesn’t care,”’ one history recounts.
Already a subscriber? Log in
Subscribe for just $2 a week
Try a month of The Spectator Australia absolutely free and without commitment. Not only that but – if you choose to continue – you’ll pay just $2 a week for your first year.
- Unlimited access to spectator.com.au and app
- The weekly edition on the Spectator Australia app
- Spectator podcasts and newsletters
- Full access to spectator.co.uk
Or
Unlock this article
You might disagree with half of it, but you’ll enjoy reading all of it. Try your first month for free, then just $2 a week for the remainder of your first year.
Comments
Don't miss out
Join the conversation with other Spectator Australia readers. Subscribe to leave a comment.
SUBSCRIBEAlready a subscriber? Log in