Juan Francisco de la Cerda, 8th Duke of Medinaceli

During his tenure as chief minister of Spain (1680-1685), de la Cerda enforced a number of economic reforms aimed at reducing the galloping inflation, avoiding the permanent deficit, and filling the coffers of Spanish Monarchy.

De la Cerda's policies achieved one of the largest deflations in history, which proved very beneficial to the King's subjects, increasing their incomes and purchasing powers.

By his marriage to Catalina de Aragón, Don Juan Francisco added the titles of Duke of Segorbe, Cardona and Lerma to the House of Medinaceli.

In 1677, John of Austria the Younger, the illegitimate half-brother of King Charles II (who was young and inexperienced) had removed the Queen Mother Mariana from court, and established himself as prime minister.

As his predecessors, Don Juan Francisco was a loyal servant of the Spanish Crown, and after the death of John of Austria, he became the Valido of King Charles II.