Quotessence
Home / Quotes / Quote by Paul Volcker

Quote by Paul Volcker

Author

Paul Volcker
Paul Volcker

Paul Volcker, born on September 5, 1927, is an accomplished economist from the United States. He is renowned for his significant contributions to the field of financial policy. During his tenure as the Chairman of the Federal Reserve System in the 1970s, he successfully combated inflation, earning him the title of one of the most influential central bankers in American history. more

You May Also Like

“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.”

“A party who bequeaths a note bequeaths the claim and not merely the material on which the writing appears. This is proved by a sale, for when a note is sold, the debt by which it is evidenced is also considered to be sold.”

“Modern society, which, soon after its birth, pulled Plutus by the hair of his head from the bowels of the earth, greets gold as its Holy Grail, as the glittering incarnation of the very principle of its own life.”

“Stock prices are likely to be among the prices that are relatively vulnerable to purely social movements because there is no accepted theory by which to understand the worth of stocks....investors have no model or at best a very incomplete model of behavior of prices, dividend, or earnings, of speculative assets.”