Paul A. Volcker Quotes

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

Inflation is one form of taxation that can be imposed without legislation.

When you get inflation, you get massive distortions of the economy.

Americans have seen the value of the dollar slowly decline due to the steady erosion of inflation.

Since World War II, inflation - the apparently inexorable rise in the prices of goods and services - has been the bane of central bankers.

Many emerging countries are facing the same issue of overheating and inflation because they have been vigorously expanding fiscal and monetary policy to counter the 2008 shock.

When you are growing at a rapid rate, there is bound to be some inflation. I think a 5% rate of inflation is something that we should take in our stride.

Inflation is everywhere and anywhere a monetary phenomenon.

There's no such thing as a painless cure for inflation.

Inflation destroys savings, impedes planning, and discourages investment. That means less productivity and a lower standard of living.

In the simplest terms, inflation occurs when there's too much money in the system. On the flip side, deflation occurs when there are too few dollars in circulation.

Below-target inflation increases the real value of debts owed by households and businesses and reduces the ability of central banks to respond to downturns.

The best measure of inflation is what is happening with commodity prices.

The real problem is deflation. That is the opposite of inflation but equally serious to the borrower.

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.

In reality there is no such thing as an inflation of prices, relatively to gold. There is such a thing as a depreciated paper currency.

During the past two decades, inflation has fallen to a low level in major industrial countries.

In short, both experience and economic theory imply that the US could now t to a more competitive dollar without experiencing either increased inflation or decreased economic growth.

Inflation is taxation without legislation.

To face deflation, you have to have people accepting it and not reacting to it.

With the shrinking of the US economy, and it's shrinking very rapidly, you not only have more money, but you also have fewer goods. That's a classic double-whammy on inflation.

Well, I think the global economy is in the position for continuing good growth with inflation well in check.

I continue to believe that the American people have a love-hate relationship with inflation. They hate inflation but love everything that causes it.

What we're talking about is the price of goods, all goods, in terms of money. That has nothing to do with unemployment, except for the fact that you get fewer goods. And when you have more money and fewer goods, the amount of dollars per good goes up. It goes up because there are fewer goods and it goes up because there is more money.

It is a way to take people's wealth from them without having to openly raise taxes. Inflation is the most universal tax of all.