the "Volcker shock" in U.S. monetary policy

Target entity: the "Volcker shock" in U.S. monetary policy
Context triple: [Paul A. Volcker, knownFor, the "Volcker shock" in U.S. monetary policy]

• A. Bretton Woods system
  The Bretton Woods system was a post–World War II international monetary order in which major currencies were pegged to the U.S. dollar, and the dollar was convertible to gold, creating a fixed exchange rate regime that lasted until the early 1970s.
• B. NSC-68
  NSC-68 was a pivotal 1950 U.S. national security policy paper that called for a massive military buildup and global containment strategy against Soviet expansion during the early Cold War.
• C. Emergency Banking Act
  The Emergency Banking Act was a 1933 U.S. law passed early in Franklin D. Roosevelt’s presidency to stabilize the collapsing banking system during the Great Depression by regulating bank operations and restoring public confidence.
• D. Board of Governors
  The Board of Governors is the senior governing body of the University of Manchester, responsible for overseeing its strategic direction, finances, and overall governance.
• E. Consortium on Financing Higher Education
  The Consortium on Financing Higher Education is an organization of highly selective, private colleges and universities in the United States that collaborates on issues related to financial aid, affordability, and access to higher education.
• F. None of above. chosen
• G. Unsure - the case is ambiguous/there is not enough information to decide.

Target entity: the "Volcker shock" in U.S. monetary policy
Target entity description: The "Volcker shock" in U.S. monetary policy refers to the dramatic interest rate hikes and tight monetary stance of the early 1980s aimed at breaking entrenched inflation, which triggered a deep recession but ultimately restored price stability and reshaped central banking practice.

• A. Bretton Woods system
  The Bretton Woods system was a post–World War II international monetary order in which major currencies were pegged to the U.S. dollar, and the dollar was convertible to gold, creating a fixed exchange rate regime that lasted until the early 1970s.
• B. Glass–Steagall Act
  The Glass–Steagall Act was a landmark U.S. banking law of the 1930s that separated commercial and investment banking to curb financial speculation and prevent future banking crises.
• C. Asian financial crisis of 1997–1998
  The Asian financial crisis of 1997–1998 was a severe regional economic meltdown that began with currency devaluations in East and Southeast Asia, triggering widespread financial instability, recessions, and international policy responses.
• D. Five-Year Plans for the National Economy of the Soviet Union
  The Five-Year Plans for the National Economy of the Soviet Union were a series of centralized, state-directed economic programs that rapidly industrialized the USSR and transformed its agrarian economy under communist rule.
• E. American Power and the New Mandarins
  American Power and the New Mandarins is a 1969 collection of political essays by Noam Chomsky that sharply criticizes U.S. foreign policy and intellectual complicity in the Vietnam War.
• F. None of above. chosen