President Carter tapping Paul Volcker to do his thing to kill stagflation and reset US monetary policy is probably the most courageous thing a politician has done in my lifetime. The short term effects were a disaster for his re-election campaign, but the long term effect was the monetary stability we’ve had for a generation.
Courageous if you are a capital owner yes, not for labor. Paul Volcker did that expressly to kill the labor movement and unionized labor. That marked the end of the Great Compression and the begining of what we call the era of Neoliberalism.