nope. 
They were high just in the late 70s, early 80s. Carter/Volker did that to stop the damage that the GOP had done to America and caused stagflation. 
Basically, Carter took it in the shorts correcting everything while GOP run around screaming that it was reagan that fixed it all. 
That idiot could not fix a burnt-out bulb, if his life depended on it.

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