BERT LANCE
(Thomas Bertram Lance)
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Volcker was politically very independent and the President was facing re-election. Carter appointed him. The Federal Reserve took actions that were unpopular with most voters. Carter couldn't control the Federal Reserve. He lost the election.
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Thomas Bertram "Bert" Lance was an American businessman who served as director of the Office of Management and Budget under President Jimmy Carter in 1977. He is known mainly for resigning from the Carter administration because of a scandal during his first year in office. However, he was later cleared of all charges.