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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.
Median wages of production workers, who comprise 80 percent of the workforce, haven't risen in 30 years, adjusted for inflation.
Uncertainty about sales impedes business planning and could harm capital formation just as much as uncertainty about inflation can create uncertainty about relative prices and harm business planning.
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.
Production is the only answer to inflation.
With the sugar market hysteria, the people are obviously worried and expect higher inflation. When this hysteria subsides, which we're probably observing, then I hope that people will also get less worried about the future of inflation.
Slow growth and inflation have a tendency to accompany large deficits and increasing debt as a percentage of GDP.
I've made a commitment that state spending in Vermont won't grow any more than the rate of inflation plus population growth.
We are a people trying not only to solve the problems of the present: unemployment, inflation... but we are attempting on a larger scale to fulfill the promise of America.
You can't continue to have higher education tuition grow at a multiple of the rate of inflation.
The Federal Reserve has an official commitment to two different policies. One is to prevent inflation from getting too high. The second is to maintain high employment... the European Central Bank has only the first. It has no commitment to keep employment up.
Entitlements seem to grow with prosperity; not only because they are indexed to inflation or GDP, but also because a prosperous country tells itself it can afford more benefits.
To me, a wise and humane policy is occasionally to let inflation rise even when inflation is running above target.
Low and stable inflation in many countries is an important accomplishment that will continue to bring significant benefits.
If global oil prices or commodity prices are high, then it is bound to create inflation. So, we should not be too worried if the inflation is created by global commodity prices. When they come down, inflation will automatically come down.
If unemployment could be brought down to say 2 percent at the cost of an assured steady rate of inflation of 10 percent per year, or even 20 percent, this would be a good bargain.
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 A. 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 A. Volcker
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.
Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hit man.
Deflation isn't good, and inflation is easier to cure than deflation.
People concerned about inflation today tend to buy big houses and nice cars.
Every time the Fed implements 'quantitative easing,' a.k.a. printing more money, two things go up: taxes and inflation. When taxes and inflation go up, more jobs are lost.
The Planck satellite may detect the imprint of the gravitational waves predicted by inflation. This would be quantum gravity written across the sky.
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.
William Arthur Ward
Martin Luther King, Jr.
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Never was anything great achieved without danger.
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