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Monetary Policy Quotes

Browse 57 quotes about Monetary Policy.

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Monetary Policy Quotes

“Despite the Bank of England gaining independence for setting UK monetary policy in 1998 and in the process being freed from political meddling; it has recently come under renewed attack from the lunatic fringe within the UK's Conservative Party, especially amongst arch Brexiteers such as Jacob Rees-Mogg (a.k.a. JackOff Grease-Smug to his growing number of detractors) who appear hell-bent on undermining the current bank governor's every move. When Mark Carney rightly sounds the alarm bells of the potential dangers to the UK economy resulting from a 'no deal' Brexit, he should be allowed to offer those wise words of warning without being subjected to Rees-Mogg's tiresome whining and monotonous droning on about politically motivated statements. It's high time this pestilent gnat modified his tune before a large fly swat of public outrage takes him down.”

IndependencePolitics QuotesBrexitMonetary PolicyBritish PoliticsPolitical CommentaryUk PoliticsJacob Rees MoggBank Of EnglandMark Carney
Book:Lines & Lenses
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“What with the doctrines that are now widely accepted and the policies accordingly expected from the monetary authorities, there can be little doubt that current union policies must lead to continuous and progressive infl ation. The chief reason for this is that the dominant “fullemployment” doctrines explicitly relieve the unions of the responsibility for any unemployment and place the duty of preserving full employment on the monetary and fiscal authorities. The only way in which the latter can prevent union policy from producing unemployment is, however, to counter through inflation whatever excessive rises in real wages unions tend to cause.”

UnionsWagesInflationMonetary PolicyLabor LawsReal WagesInflationism
Book:The Constitution of Liberty
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“Stafford’s Law of Irreversible Entropy states: A system that achieved a perfect champagne alignment in its own era cannot be shoehorned back in once the environment has evolved or degenerated beyond it. This is the Staffordian Duality; it is immaterial whether global prospects improved or deteriorated; it only matters that the metric mirror of the past no longer reflects the current modern sinkhole. The most overcrowded vessel is the one that sails on the golden sea of memories.”

PhilosophyTimeMemoriesNostalgiaInflationEntropyLiving In The PastMonetary PolicyEconomics Impermanence
Author:Stewart Stafford
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“Every time the politicians we elect attempt to increase our standard of living or employment prospects by increasing government spending to stimulate economic activity (‘Keynesian economics’ as it is called); and every time a national bank tries to increase our standard of living or employment prospects by stimulating economic activity by increasing the money supply (‘quantitative easing’ as it is called), each of those actions has its ideological origins in the ideas contained in John Law’s Money and Trade Considered, and the actions of John Law’s Mississippi Scheme.”

PoliticsEconomicsFinanceMonetary PolicyJohn LawEconomic StimulusMoney And Trade ConsideredMississippi SchemeMoney SupplyQuantitive Easing
Book:John Law: The Lauriston Lecture and Collected Writings
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“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.”

FirstsJobsDecisionPolicyIntentionInternationalFinanceBoardsDivisionArticlesReservesStaffEconomistBankingSecrecyMonetaryFederal ReserveCentral BanksMonetary PolicyCentral Banking
Author:Janet Yellen
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“I'm not trying to be diplomatic. I'm trying to be more nuanced and realistic. I think there has to be a serious examination of the shortcomings of the Euro structure. Euro central institutions, whether it be fiscal policy, monetary policy, financial regulation, are simply not as robust as they are in a currency that has a national government behind it.”

ThinkingTryingGovernmentBehindsPolicySeriousInstitutionsStructureFinancialRealisticRegulationCurrencyExaminationShortcomingsMonetaryEuroDiplomaticRobustMonetary PolicyFiscal PolicyFinancial Regulation
Author:Stephen Harper
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“The excellence of metallic money in free circulation consists in the fact that it renders impossible the abuse of the power of the government to dispose of the possessions of its citizens by means of its monetary policy and thus serves as the solid foundation of economic liberty within each country and of free trade between one country and another.”

MeanCountryFactsGovernmentLibertyImpossibleEconomicPolicyCitizensAbuseFoundationTradeExcellencePossessionMonetaryCirculationFree TradeSolid FoundationMetallicMonetary Policy
Author:Faustino Ballve
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“For a small open economy that trades mostly with the euro zone it makes absolute sense to be part of the currency union. Our currency has already pegged to the euro since 2002. We don't have an independent monetary policy. We are regulated by the European Central Bank in Frankfurt, but we are not able to reap all the profits. Our businesses want to save the transaction costs.”

WantAbleEconomyPolicyCostAbsolutesIndependentTradeUnionsProfitZoneCurrencyReapMonetaryTransactionsEuroCentral BanksMonetary PolicyFrankfurt
Author:Dalia Grybauskaite
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“Let's say I am a chocoholic and I eat tons of chocolate a day. A hundred thousands of tons a day. I have this craving, but I can't afford it, so I get a printing press, and I start printing money, and I print billions and billions to buy chocolate. So I create this boom in the chocolate industry, so stores are running out of chocolate. So they have demand, so chocolate makers expand. Cocoa growers expand. You create this great boom. But now the feds arrest me and shut me down. And now there is a depression in the chocolate industry. That's what happens with the monetary policy.”

I CanHappensRunningPolicyIndustryDemandHundredDown AndPressesStoresBillionsFedsChocolatePrintMakersCravingPrintingMonetaryPrinting PressMonetary PolicyCocoaPrinting Money
Author:Charles Koch
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“Global central banks are working hard to lift their economies through an aggressively easy monetary policy. The ECB [European Central Bank] and BOJ [Bank of Japan] are buying tens of billions of bonds and other financial securities each month in an effort to stimulate their economies, which is pushing down rates everywhere, including in the U.S.”

HardEasyEffortEconomySecurityPolicyMonthsRateIncludingFinancialBillionsLiftsBuyingJapanPushingMonetaryCentral BanksMonetary PolicyFinancial SecurityEach Month
Author:Mark Zandi
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“Ever since its founding in 1913, the Fed has described itself as an "independent" agency operated by selfless public servants striving to "fine-tune" the economy through monetary policy. In reality, however, a non-political governmental institution is as likely as a barking cat.”

RealityPoliticalLibertyEconomyPolicyFineEconomicsCatIndependentInstitutionsStriveLibertarianServantAgencyTunesFedsSelflessLibertarianismFoundingMonetaryPublic ServantsMonetary PolicyNon Political
Author:Thomas DiLorenzo
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“Inflation is probably the most important single factor in that vicious circle wherein one kind of government action makes more and more government control necessary. For this reason all those who wish to stop the drift toward increasing government control should concentrate their effort on monetary policy.”

ShouldKindImportantReasonGovernmentActionWishEffortPolicyCirclesFactorsViciousInflationMonetaryMonetary PolicyVicious Circles
Author:Friedrich August von Hayek
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“We're bankrupting our country and we have an empire that we're trying to defend which costs us $1 trillion a year. And the standard of living is going down today. It's going down and the middle class is hurting because of the monetary policy. When you destroy a currency, the middle class gets wiped out.”

TryingYearsCountryTodayHurtMoneyClassMiddlePolicyCostStandardsDown AndOur CountryMiddle ClassEmpiresCurrencyMonetaryStandards Of LivingMonetary Policy
Author:Ron Paul
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“The theory of economic shock therapy relies in part on the roleof expectations on feeding an inflationary process. Reining in inflation requires not only changing monetary policy but also changing the behavior of consumers, employers and workers. The role of a sudden, jarring policy shift is that it quickly alters expectations, signaling to the public that the rules of the game have changed dramatically - prices will not keep rising, nor will wages.”

GamesProcessRolesEconomicPolicyChangedTheoryBehaviorExpectationsWorkersConsumersTherapyRelyRisingShockWagesFeedingInflationEmployersMonetaryRules Of The GameMonetary PolicyShock Therapy
Author:Naomi Klein
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