So Trump is not the first president to try to turn the Federal Reserve into his plaything for electoral benefit. Volcker in 1984 had to take the same from James Baker in the presence of a silent Ronald Reagan in the Oval Office. Volcker just walked out without comment after Baker made his pitch. We need more Profiles in Courage like Paul Volcker. They are a rare breed currently, perhaps always in fact. I wonder why Reagan said nothing at the time, leaving it to his chief of staff to make the inappropriate pitch. I voted for Reagan twice, but not because I really thought much positive about him. I remembered him as governor of California during my long residence there and knew what he was: an actor. Our current president is also an actor, a much more dangerous one than Ronnie Reagan.

Norman Ravitch *62
Savannah, Ga.