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Quiz: CNBC Quiz: Davos And The World Economy

Question 4 of 12

How high was the prime lending rate during the hyper-inflation period of the early 1980s when US Fed Chairman Paul Volcker relentlessly raised official rates?

  1. 15.50 %
  2. 16.50 %
  3. 20.50 %
  4. 21.50 %
Correct!

The high was 21.50 %. It reached that level in late December 1980 and several times in 1981.
Source: Federal Reserve

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