19+ Paul Volcker Quotes On Inflation

Paul Volcker is an American economist who served as the Chairman of the Federal Reserve from 1979 to 1987. He is known for his efforts to control inflation by implementing tight monetary policies and for his role in the Volcker Rule, which restricts banks from making certain kinds of speculative investments that do not benefit their customers. He is also known for leading the U.S. response to the global financial crisis of 2008. Following is our collection on famous quotes by Paul Volcker on inflation.

The only thing useful banks have invented in 20 years is the ATM. — Paul Volcker

The speed of communication, the speed of information transfer, the cheapness of communication, the ease of moving things around the world are a difference in kind as well as degree. — Paul Volcker

When I hear complaints about less liquidity, remember there is such a thing as too much liquidity. — Paul Volcker

A global economy requires a global currency. — Paul Volcker

Double-digit inflation is a terrible thing - and it got up to 14 or 15 percent on a monthly basis for a while, shortly after I became chairman of the Fed. — Paul Volcker

It's a whole different attitude toward public service than it once was. I tell you, we can all sit around in our old age and moan about it, but I think the administrative processes and the management effectiveness of the federal government are terrible! — Paul Volcker

I wish someone would give me one shred of neutral evidence that financial innovation has led to economic growth — one shred of evidence. — Paul Volcker

It was probably a mistake to allow gold to rise so high. — Paul Volcker

What's the subject of life - to get rich? All of those fellows out there getting rich could be dancing around the real subject of life. — Paul Volcker

The idea that when people see prices falling they will stop buying those cheaper goods or cheaper food does not make much sense. And aiming for 2 percent inflation every year means that after a decade prices are more than 25 percent higher and the price level doubles every generation. That is not price stability, yet they call it price stability. I just do not understand central banks wanting a little inflation. — Paul Volcker

A nation's exchange rate is the single most important price in its economy; it will influence the entire range of individual prices, imports and exports, and even the level of economic activity. So it is hard for any government to ignore large swings in its exchange rate. — Paul Volcker

If, at the end of the day, we need to raise taxes, we should raise taxes. — Paul Volcker

It was the biggest inflation and the most sustained inflation that the United States had ever had. — Paul Volcker

Less emphasis on inventories, I think, may tend to dampen business cycles, because business cycles are typically in the grasp of inventory cycles and heavy industry cycles. — Paul Volcker

The standard of living of the average American has to decline. — Paul Volcker

If you don't have some bad loans you are not in business. — Paul Volcker

That day the U.S. announced that the dollar would be devalued by 10 percent. By switching the yen to a floating exchange rate, the Japanese currency appreciated, and a sufficient realignment in exchange rates was realized. Joint intervention in gold sales to prevent a steep rise in the price of gold, however, was not undertaken. That was a mistake. — Paul Volcker

When people begin anticipating inflation, it doesn't do you any good anymore, because any benefit of inflation comes from the fact that you do better than you thought you were going to do. — Paul Volcker

I am suspicious of the idea of a new paradigm, to use that word, an entirely new structure of the economy. — Paul Volcker

Life Lessons by Paul Volcker

1. Paul Volcker's work emphasizes the importance of fiscal responsibility and sound economic policy. He advocated for strong, independent central banks and the need to control inflation.
2. He also highlighted the dangers of excessive government spending and the need to take a long-term view when making economic decisions.
3. Through his work, Volcker taught us that sound economic policy and fiscal responsibility are essential for a healthy economy.