Market Shocks

Nicholas P. Sargen ()
Additional contact information
Nicholas P. Sargen: Nicholas Sargen Advisory LLC

Chapter 4 in JPMorgan’s Fall and Revival, 2020, pp 29-39 from Springer

Abstract: Abstract When Preston assumed Morgan’s helm, his first task was to deal with a series of market shocks that proved especially challenging for financial institutions. They included the second oil shock after the Iranian Revolution in 1979 and the shift in US monetary policy under Paul Volcker whereby interest rates were allowed to rise to record levels to combat accelerating inflation. The International Economics Department assessed the implications of these developments for the global economy and for interest rates and exchange rates. Morgan Guaranty was able to cope with the market gyrations better than most financial institutions because of its coterie of highly seasoned traders. By early 1982, however, there were indications that record interest rates and a resurgent dollar were taking a toll on the US and global economies.

Date: 2020
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-47058-6_4

Ordering information: This item can be ordered from
http://www.springer.com/9783030470586

DOI: 10.1007/978-3-030-47058-6_4

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().