Quotes About Monetary

In stabilizing the macroeconomic environment, we have focused on aligning fiscal with monetary policy and nudging the central bank toward the objective of more market-determined exchange rates.

The real problem is deflation. That is the opposite of inflation but equally serious to the borrower.

Austerity policy without currency devaluation can only hamper economic growth.

A beautiful deleveraging balances the three options. In other words, there is a certain amount of austerity, there is a certain amount of debt restructuring, and there is a certain amount of printing of money. When done in the right mix, it isn't dramatic.

The monetary policy committee could either keep rates constant, increase them, or bring them down. There are three options possible compared to when it is accommodative.

The supply-side effect of a restrictive monetary policy is likely to be perverse, in that high interest rates enter into costs and thus exert inflationary pressure.

The expansionary operations of the Second Bank of the United States, coupled with its laxity toward insisting on specie payment by the state banks, impelled a further inflationary expansion of state banks on top of the spectacular enlargement of the central bank. Thus, the number of incorporated state banks rose from 232 in 1816 to 338 in 1818.

At the time, my personal research objectives were to provide Keynesian economics with more rigorous foundations and to tighten and elaborate the logic of macroeconomic and monetary theory.

There have been three great inventions since the beginning of time: fire, the wheel, and central banking.

For the various necessaries of life are not easily carried about, and hence men agreed to employ in their dealings with each other something which was intrinsically useful and easily applicable to the purposes of life, for example, iron, silver, and the like. Of this the value was at first measured by size and weight, but in process of time they put a stamp upon it, to save the trouble of weighing and to mark the value.

I'm still a hacker. I get paid for it now. I never received any monetary gain from the hacking I did before. The main difference in what I do now compared to what I did then is that I now do it with authorization.

It is important to recognise near- and medium-term risks to the inflation outlook.

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.

There is never enough gold to redeem all the currency in circulation.

Monetary policy itself cannot sensibly be directed at reducing imbalances.

Although I believe, like Bagehot, that central banks are inherently destabilising, that doesn't mean that you cannot have financial and economic instability without a central bank. Decentralised monetary systems, if poorly regulated, can also be unstable;

In the stock market, as with horse racing, money makes the mare go. Monetary conditions exert an enormous influence on stock prices.

then monetary policy has at best only short-lived effects on output and employment.

I said that best practices in monetary policy had evolved during the Greenspan years and would continue to evolve. But

That's why I often said that monetary policy was not a panacea—we needed Congress to do its part. After

we didn't like to be dependent on Treasury's help in setting monetary policy.

With the money supply no longer constrained by the amount of gold held by the government, deflation stopped almost immediately.

I found myself becoming increasingly interested in the policy frameworks that central banks use, and in how those frameworks might be improved.

We must take into account not only the current inflation rate but also the prospects for inflation a few quarters ahead, when the effects of policy decisions will actually be felt