Direction of monetary-base expansion decisions relative to trend. Separate from fiscal.transfer_expansion even when correlated.
De jure and de facto independence of the central bank from fiscal authority. Per D.1.5 scope, one of the framework's defensible monetary positions.
Under Chair Paul Volcker, the Federal Reserve drove the federal funds rate to historic peaks above 19% in mid-1981 — alongside a shift to non-borrowed reserves targeting announced October 6, 1979 — to break entrenched 1970s inflation expectations. The resulting tight-money regime triggered the 1980 and 1981-82 recessions, peak unemployment of 10.8%, and a rapid disinflation from over 13% CPI in 1980 to under 4% by 1983, anchoring the modern credibility-of-inflation-targeting paradigm.
Per invariant 3, reforms are scored by what they did on each channel-separated axis, not by the party that enacted them. This fingerprint is how the policy-match engine finds historical analogues.
Explicit links are curated by the author. Inferred links are hypotheses in the library that test the same axes this policy moved — the framework's answer to "what does the data say about a policy like this?".
Ranked by axis-fingerprint overlap with this policy. Direction match bolded — those are the closest historical analogues. Shape of the match is what drives policy-outcome comparison, not the country or party label.