He was once called the Harry Truman of the Federal Reserve. It was, by all accounts, a well-deserved reputation. During his tenure atop the St. Louis branch during some of the most tumultuous years, Darryl Francis would attain the status of a true maverick. Clear-minded and resolute, Francis didn’t care which way Economics was turning, only ever interested in the facts which supported, or denied, his theories.
It was the late sixties and seventies, the world wrestling with tremendous upheaval seemingly in every direction. The computer revolution transformed more than computational power. There was also that small thing with inflation.
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