The myth of Powell-as-Volcker has taken on a life of its own. But when placed under scrutiny, it collapses faster than a leveraged ETF in a bear market. Despite surface-level similarities — rate hikes, inflation pressure, and market angst — the actual posture, approach, and consequences between the two Fed Chairs couldn’t be further apart. Here’s why comparing Jerome Powell to Paul Volcker is not just flawed — it’s almost farcical.