Gita Gopinath Quotes

There are limits to monetary policy.

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 only way to ensure that inflation expectations remain safely anchored near the FOMC's target is to keep inflation close to that target on a consistent basis.

A crucial responsibility of any central bank is to control inflation, the average rate of increase in the prices of a broad group of goods and services.

If I am confirmed, I am confident that my colleagues on the Federal Open Market Committee and I will maintain the focus on long-term price stability as monetary policy's greatest contribution to general economic prosperity and maximum employment.

A good monetary policy follows inflationary expectations and not historical numbers.

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

I think the Fed is not designed to have effective tools to deal with the economy. It should settle for just controlling the money supply. And - if it insists, it can worry about inflation.

Monetary policy is not a panacea.

The government will always tell you that it wants low inflation. The real issue is the horizon over which to bring inflation down.

I'm sure Mark Carney is a very clever young man, but I think that the government would be mad to move from inflation targeting to money GDP targeting.

The Federal Reserve's monetary policy objective is to foster maximum employment and price stability. In this regard, a key challenge is to assess just how far the economy now stands from the attainment of its maximum employment goal.

The Fed's job is not to stall growth or to prevent economic 'overheating.' It is to keep prices stable and the dollar a strong and reliable currency.

Of course I welcome all the normalization of monetary policy. I think monetary policy should be normal.

There is no risk-free path for monetary policy.

The role of monetary policy is to smooth out business cycles by promoting steady inflation and healthy labor markets, but modern central bankers have taken an activist turn.

As a former economy minister, I can't not think about economic growth. The central bank should also think about this but through its own instruments.

No one thinks of controlling inflation of a continental-sized country by holding back municipal tariffs. Macroeconomic stability cannot be achieved through microeconomic intervention.

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.

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

Interest rates are used to achieve overall economic stability.

Monetary policy and fiscal policy are inseparable.

The Federal Reserve's job is to take away the punch bowl just when the party gets going.

Monetary stability is a cornerstone of the social contract.

During the Greenspan-Bernanke era, the Fed has embraced the view that stability in the economy and stability in prices are mutually consistent. As long as inflation remains at or below its target level, the Fed's modus operandi is to panic at the sight of real or perceived economic trouble and provide emergency relief.