In 1979, Paul Volcker became Chair of the Federal Reserve. His primary policy goal was to curb U.S. inflation. In the meantime, Congress and the Reagan's administration pursued a policy of tax-cuts that enlarged the federal deficits. Use the IS-LM model to predict the impact of these policies on U.S. GDP, the interest rate, and inflation in the 1980s. write the answer here, and draw the graph on paper.