Quotes About Monetary

Monetary policy is a blunt tool which certainly affects the distribution of income and wealth, although whether the net effect is to increase or reduce inequality is not clear.

When historical relationships are taken into account, it is difficult to ascribe the house price bubble either to monetary policy or to the broader macroeconomic environment.

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.

Opponents of central-bank intervention are right about one thing: monetary financing carries serious risks. In order to ensure that it is as safe and effective as possible, it must be used primarily in the event of self-fulfilling debt crises.

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.

In our time, the curse is monetary illiteracy, just as inability to read plain print was the curse of earlier centuries.

Money is not something you just print. It must be backed by something, either good economy or gold.

I only took a high school acting class because there was no other class I wanted to take. I loved it, but I was always against acting as a profession. I didn't like the monetary fluctuations I saw.

The euro is... a failed currency, a wrong currency, a failed experiment.

I understand that the rupee is fairly market determined.

I am shocked that Republicans can't explain why our technological and economic advantages are the result of sound monetary and economic policy.

You just can't bifurcate bitcoin currency from the technology. Bitcoin will always need a monetary base.

Now, McDonald's is a very good indicator of the global economy. If McDonald's doesn't increase its sales, it tells you that the monetary policies have largely failed in the sense that prices are going up more than disposable income, and so people have less purchasing power.

We pay some price when necessary to bring down inflation but that price is temporary and is not large relative to the permanent gain from reduced inflation.

Hamilton, wanting the bank to remain predominantly in private hands, advanced a theory that became a truism of central banking—that monetary policy was so liable to abuse that it needed some insulation from interfering politicians: "To attach full confidence to an institution of this nature, it appears to be an essential ingredient in its structure that it shall be under a private not a public direction, under the guidance of individual interest, not of public policy." 18 At

Pierpont was amenable to central banks so long as they were private and had boards composed of bankers.

Congress adopted the dollar as the official monetary unit in 1785, but for many years New York shopkeepers still quoted prices in pounds, shillings, and pence.

The paper currency was depreciating rapidly. Hence, for the first time, Hamilton began to fiddle with ideas for creating a national bank, through a mixture of foreign loans and private subscriptions.

In March 1780, Congress tried to restore monetary order by issuing one new dollar in exchange for forty old ones, a move that wiped out the savings of many Americans.

The Fed is totally open.

I don't think central banks are going to give up fiat currency anytime in my lifetime.

Monetary policy ultimately must be conducted in a pragmatic manner that relies not on any particular indicator or model but, instead, reflects an ongoing assessment of a wide range of information in the context of our ever-evolving understanding of the economy.

Governments have a tendency to screw up currencies.

The central bank needs to be able to make policy without short term political concerns.