Kevin Brady Quotes

Requiring the Fed to focus on preserving the purchasing power of the dollar will create a solid foundation for economic growth.

Low and stable inflation in many countries is an important accomplishment that will continue to bring significant benefits.

The Fed needs an approach that consolidates the gains of the Greenspan years and ensures that those successful policies will continue - even if future Fed chairmen are less skillful or less committed to price stability than Mr. Greenspan has been.

After a long period in which the desired direction for inflation was always downward, the industrialized world's central banks must today try to avoid major changes in the inflation rate in either direction.

I have never believed that central banks should have rigid inflation targeting. That is not a good thing to stabilize. There is nothing in economic theory to back this.

The country needed someone credible to fight inflation and Volker was the man for the job…. He understood that the government had to establish credibility in order to give policy makers flexibility when they needed it.

I have said repeatedly that the way to sustainable growth is to bring down inflation to much more reasonable levels.

Avoiding inflation is not an absolute imperative but rather is one of a number of conflicting goals that we must pursue and that we may often have to compromise.

The Federal Reserve has an official commitment to two different policies. One is to prevent inflation from getting too high. The second is to maintain high employment... the European Central Bank has only the first. It has no commitment to keep employment up.

The main long-run contribution monetary policy can make is to provide a stable macroeconomic and financial environment.

Very few countries grow at high rate if inflation is high and volatile. I think, in a way, we are doing our bit to support a higher growth rate, but on a durable basis.

The strength of the dollar has historically been tied to the strength of the U.S. economy and the faith that investors have in doing business in America.

Japan's experience suggests the importance of assessing the sustainability of price stability over a fairly long period, which many central banks have emphasized in recent years.

Deflation isn't good, and inflation is easier to cure than deflation.

The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.

Achieving price stability is not only important in itself, it is also central to attaining the Federal Reserve's other mandate objectives of maximum sustainable employment and moderate long-term interest rates.

Our mission, as set forth by the Congress is a critical one: to preserve price stability, to foster maximum sustainable growth in output and employment, and to promote a stable and efficient financial system that serves all Americans well and fairly.

The central focus of what we are doing at the Fed is to keep inflation from accelerating - and preferably decelerating.

Domestic inflation reflects domestic monetary policy.

Our system works best if the value of money stays the same.

I reject the advice of those who think the only way to fight inflation is to throw millions of people out of work .... I guarantee you that I will not fight inflation with your jobs.

Money can never circulate freely and actively unless there be absolute confidence in its value.

Our purpose is to lean against the winds of deflation or inflation, whichever way they are blowing.

it is obvious that there is only wanting to the fiscal prosperity of the Government the restoration of an uniform medium of exchange … it is essential that the nation should possess a currency of equal value, credit, and use wherever it may circulate. The Constitution has entrusted Congress exclusively with the power of creating and regulating a currency

If by carelessness in controlling inflation and imposing controls on our general economy we are unable to meet these temporary but vital calls upon us, we will be courting real disaster.