86 Monetary Policy Quotes
Following is our list of monetary policy quotations and slogans full of insightful wisdom and perspective about what is monetary policy.
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Famous Monetary Policy Quotes
Monetary policy is about the redistribution of wealth and income from the masses to the classes. — Russell Napier
The success of monetary policy should be judged by the economy's performance against our statutory mandates of price stability and maximum employment. — Jerome Powell
While monetary policy can contribute to growth by supporting a durable expansion in a context of price stability, it cannot reliably affect the long-run sustainable level of the economy's growth. — Jerome Powell
The main long-run contribution monetary policy can make is to provide a stable macroeconomic and financial environment. — Jerome Powell
Monetary policy itself cannot sensibly be directed at reducing imbalances. — Timothy Geithner
Inflation is always and everywhere a monetary phenomenon. — Milton Friedman
The FOMC has considerable control over short-term interest rates. — Jerome Powell
The Congress has tasked the Federal Reserve with achieving stable prices and maximum employment - the dual mandate. — Jerome Powell
The most important thing about any monetary system is that it provides a stable unit of account. — Russell Napier
One factor that favors easier adjustment in EMEs is that U.S. monetary policy normalization has been and should continue to be gradual, as long as the U.S. economy evolves roughly as expected. — Jerome Powell
The signal is monetary expansion everywhere. The problem is people are going to lose half their wealth in a few years. The solution is Bitcoin. The rest is noise. — Michael Saylor
By the beginning of the 20th century, the debate about monetary policy and the nation's financial system had been going on for over a century. — Jerome Powell
A snarky but accurate description of monetary policy over the past five years is that the Federal Reserve successfully replaced the technology bubble with a housing bubble — Paul Krugman
Printing money is the last resort of desperate governments when all other policies have failed. — George Osborne
Fiscal And Monetary Policy Quotes
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. — Sri Mulyani Indrawati
I've always believed in expansionary monetary policy and if necessary fiscal policy when the economy is depressed. — Paul Krugman
Fiscal policy, monetary policy, they need to work together to try and raise the level of growth. — Joe Hockey
A lot of joblessness in the black community doesn't seem to be reachable through fiscal and monetary policies. People have not been drawn into the labor market even during periods of economic recovery. — William Julius Wilson
That means following a very restrictive fiscal and monetary policy which will squeeze the monopolies and cut their subsidies. On the micro level we will allow other economic agents, both domestic and foreign, to compete with them. — Vaclav Klaus
When you're facing the threat of recession, you need to have an expansionary monetary and fiscal policy. Pre-Keynesian, Hooverite views are dead everywhere except on 19th Street in Washington. — Joseph Stiglitz
Monetary System Quotes
When plunder becomes a way of life, men create for themselves a legal system that authorizes it and a moral code that glorifies it. — Frederic Bastiat
Bitcoin Mining serves as the foundation of the monetary network - critical to its growth, stability, longevity, vitality, & integrity. The Proof of Work architecture is a masterpiece of engineering that anchors the system to the real world, providing Seven Layers of Security. — Michael Saylor
It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. — Henry Ford
War, poverty, corruption, hunger, misery, human suffering will not change in a monetary system. That is, there will be very little significant change. It’s going to take the redesign of our culture and values. — Jacque Fresco
You are a den of vipers and thieves. I intend to rout you out, and by the eternal God, I will rout you out. — Andrew Jackson
The Fed's organization reflects a long-standing desire in American history to ensure that power over our nation's monetary policy and financial system is not concentrated in a few hands, whether in Washington or in high finance or in any single group or constituency. — Jerome Powell
The bank hath benefit of interest on all moneys which it creates out of nothing. — William Paterson
Bankers own the earth. Take it away from them, but leave them the power to create money and control credit, and with a flick of a pen they will create enough to buy it back. — Josiah Stamp
The introduction of Bitcoin, as a currency native to the Internet superseding national borders and outside the realm of governmental control, offers an intriguing possibility for the emergence of a new international monetary system, to be analyzed in Chapter 9. — Saifedean Ammous
We think Bitcoin is one of the most important investments of our lifetimes, this is a global rules based monetary system and it’s a very big idea and we think it’s the biggest of all of the crypto ideas out there. — Cathie Wood
Fiscal Policy Quotes
Democracy is a form of government that cannot long survive, for as soon as the people learn that they have a voice in the fiscal policies of the government, they will move to vote for themselves all the money in the treasury, and bankrupt the nation. — Unknown Author
Taxation of earnings from labor is on a par with forced labor. Seizing the results of someone's labor is equivalent to seizing hours from him and directing him to carry on various activities. — Robert Nozick
Too often in recent history liberal governments have been wrecked on rocks of loose fiscal policy. — Franklin D. Roosevelt
The fact that we are here today to debate raising America's debt limit is a sign of leadership failure... It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. — Barack Obama
The administration's reckless plan doesn't do one thing to ensure the long term security of social security, rather it undermines our economy. We need a budget and a fiscal policy that reflects the values and interests of America and restores fiscal discipline. — Debbie Stabenow
As we get closer to the end of this Congress, we should be addressing the urgent needs of the American people - the war in Iraq, affordable health care, a sensible energy policy, quality education for our children, retirement security, and a sound and fair fiscal policy. — Chris Van Hollen
Europe unified its monetary policy through the euro before it unified politically, therefore sustaining member countries' abilities to pursue the kind of independent fiscal policies that can strain a joint currency. — Amity Shlaes
The potential gains from improved stabilization policies are on the order of hundredths of a percent of consumption, perhaps two orders of magnitude smaller than the potential benefits of available supply-side fiscal reforms. — Robert Lucas, Jr.
President Reagan, Jack Kemp and other advocates of supply-side economics understood that pro-growth tax, spending and economic policies were essential to America's long-term economic and fiscal health. — Bob Beauprez
Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset: the increased flexibility of our economy, which has fostered our extraordinary resilience to shocks. — Alan Greenspan
People Writing About Monetary Policy
More Monetary Policy Quotes
By tying minimum wage to money supply, the poor's income would rise and fall with the rise and fall in money supply. — Max Keiser
Minimum wage law is the 'People's Fed.' Tie minimum wage to money supply. If there is pushback against this idea, then shut down the Fed and its ability to distort the economy, penalizing labor, or make the Fed's distortions available to all businesses and all workers. — Max Keiser
The financial crisis and the Great Recession posed the most significant macroeconomic challenges for the United States in a half-century, leaving behind high unemployment and below-target inflation and calling for highly accommodative monetary policies. — Jerome Powell
The major economic policy challenges facing the nation today - pick your favorites among the usual suspects of low public and household savings, concerns about educational quality and achievement, high and rising income inequality, the large imbalances between our social insurance commitments and resources - are not about monetary policy. — Timothy Geithner
Long experience, in the United States and in other advanced economies, has demonstrated that monetary policy is most successful when decisions are rendered independent of influence by elected officials. — Jerome Powell
The problem with fiat is that simply maintaining the wealth you already own requires significant active management and expert decision-making. You need to develop expertise in portfolio allocation, risk management, stock and bond valuation, real estate markets, credit markets, global macro trends, national and international monetary policy, commodity markets, geopolitics, and many other arcane and highly specialized fields in order to make informed investment decisions that allow you to maintain the wealth you already earned. You effectively need to earn your money twice with fiat, once when you work for it, and once when you invest it to beat inflation. The simple gold coin saved you from all of this before fiat. — Saifedean Ammous
No government can successfully achieve all three goals of having a fixed foreign exchange rate, free capital flows, and an independent monetary policy. — Saifedean Ammous
If the public understands the central bank's views on the economy and monetary policy, then households and businesses will take those views into account in making their spending and investment plans; policy will be more effective as a result. — Jerome Powell
As financial markets continue to broaden and deepen, the behavior of asset prices will play an important role in the formulation of monetary policy going forward, perhaps a more important role than in the past. — Timothy Geithner
However, in spite of the general perception that monetary policy should be conducted so as to avert deflation, a central bank cannot lower interest rates below the zero lower bound. — Toshihiko Fukui
We made a decision that monetary policy will be made by an independent European Central Bank. — Gerhard Schroder
Well, I think as long as people are talking about stimulus, I think the Fed will be thinking about cutting rates because monetary policy is the better way to go because you can turn it on and turn it off. — Franklin Raines
The supply-side effect of a restrictive monetary policy, moreover, is likely to be perverse. High interest rates enter into costs and thus exert inflationary pressure, as well as inhibiting the expansion of capacity or the introduction of cost -reducing capital improvements. — William Vickrey
Outsourcing is a reflection of a bad economic environment domestically. If you fix that, you fix outsourcing. Our primary export is paper money, and that should change if you change the monetary policy. — Ron Paul
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. — Ben Bernanke
My bottom line is that monetary policy should react to rising prices for houses or other assets only insofar as they affect the central bank's goal variables - output, employment, and inflation. — Janet Yellen
In 1977, when I started my first job at the Federal Reserve Board as a staff economist in the Division of International Finance, it was an article of faith in central banking that secrecy about monetary policy decisions was the best policy: Central banks, as a rule, did not discuss these decisions, let alone their future policy intentions. — Janet Yellen
Monetary policy cannot do much about long-run growth, all we can try to do is to try to smooth out periods where the economy is depressed because of lack of demand — Ben Bernanke
The monetary policy of the United States has a major impact on global liquidity and capital flows and therefore, the liquidity of the US dollar should be kept at a reasonable and stable level. — Hu Jintao
Poland is one of the few countries that can afford to conduct a conventional monetary policy and that means we have to act against the buildup of imbalances in the economy. — Marek Belka
I am afraid the ordinary citizen will not like to be told that the banks can, and do, create money...And they who control the credit of the nation direct the policy of Governments and hold in the hollow of their hands the destiny of the people. — Reginald McKenna
A European currency will lead to member-nations transferring their sovereignty over financial and wage policies as well as in monetary affairs... It is an illusion to think that States can hold on to their autonomy over taxation policies. — Hans Tietmeyer
We do not interpret bitcoin's popularity as having a relationship with the public's view of the Federal Reserve's conduct of monetary policy — Janet Yellen
The dirty little secret is that both houses of Congress are irrelevant. ... America's domestic policy is now being run by Alan Greenspan and the Federal Reserve, and America's foreign policy is now being run by the International Monetary Fund [IMF]. ...when the president decides to go to war, he no longer needs a declaration of war from Congress. — Robert Reich
Few policies are more calculated to destroy the existing basis of a free society than the debauching of its currency. And few tasks, if any, are more important to the champion of freedom than creation of a sound monetary system. — Hans F. Sennholz
At best, in such depression times, monetary policy is a feeble reed on which to lean. — John Kenneth Galbraith
Economic theory has demonstrated in an irrefutable way that a prosperity created by an expansionist monetary and credit policy is illusory and must end in a slump, an economic crisis. — Ludwig von Mises
We must not forget that … monetary policy all over the world has followed the advice of the stabilizers. It is high time that their influence, which has already done harm enough, should be overthrown. — Friedrich August von Hayek
The monetary policies of the US will destroy the world. — Marc Faber
If you continue to use monetary policy to attempt to promote full employment the result would be that you would have higher inflation, and that you would not have lower unemployment. — Milton Friedman
In Conclusion
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