Inflation Control Quotes

Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output. ... A steady rate of monetary growth at a moderate level can provide a framework under which a country can have little inflation and much growth. It will not produce perfect stability; it will not produce heaven on earth; but it can make an important contribution to a stable economic society.

Inflation is a monetary phenomenon. It is made by or stopped by the central bank.

The history of interest rates is really the history of inflation. When inflation is high, interest rates are high, and when inflation is low, interest rates are low.

The threat of gold redeemability imposes a constant check and limit on inflationary issues of government paper. If the government can remove the threat, it can expand and inflate without cease. And so it begins to emit propaganda, trying to persuade the public not to use gold coins in their daily lives.

Inflation is probably the most important single factor in that vicious circle wherein one kind of government action makes more and more government control necessary. For this reason all those who wish to stop the drift toward increasing government control should concentrate their effort on monetary policy.

The best time to make deficit reduction a priority is when the inflation rate and the bond market give you some indication that you are headed for a dangerous inflationary spiral.

The gold standard makes the money's purchasing power independent of the changing, ambitions and doctrines of political parties and pressure groups. This is not a defect of the gold standard; it is its main excellence.

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.

The Fed's policy choices can always be debated, but the quality and commitment of the Federal Reserve as a public institution is second to none, and I am proud to lead it.

We must keep prices under control to ensure that price increases do not exert a major negative impact on people's lives.

That paper money has some advantages is admitted. But that its abuses also are inevitable and, by breaking up the measure of value, makes a lottery of all private property, cannot be denied.

Under the guise of fighting inflation, COLA actually creates it.

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

The Federal Reserve is incapable of accomplishing its stated objectives.

The Federal Reserve is committed to fulfilling our statutory mandate of stable prices and maximum employment.

We need to take away the government's money power. The banking industry needs its welfare check ended. The dollar's soundness depends on its being untied from the machine that can make an infinite number of copies of dollars and reduce their value to zero.

Monetary policy will, as always, respond to the economy's twists and turns so as to promote, as best as we can in an uncertain economic environment, the employment and inflation goals.

It is impossible to grasp the meaning of the idea of sound money if one does not realize that it was devised as an instrument for the protection of civil liberties against despotic inroads on the part of governments.

Return to specie payment … at the earliest period compatible with due regard to all interests concerned.

I don't get why the government is the only one that gets to print money.

You can't have a healthy economy without sound money, which is why we're on the verge of very serious economic problem.

We simply cannot check inflation by keeping people out of work.

The principle that a central bank, charged with controlling inflation, should be independent from the government is unassailable. It may also be true that it's easier for the central bank to guard its independence from political pressure when it mainly holds government securities.

We are focused on Main Street, on supporting economic conditions - plentiful jobs and stable prices - that help all Americans.

The Federal Reserve System is nothing more than legalized counterfeit.