13 Quotes by Paul A. Volcker

Well, by the standards of a lot of countries, by Latin American standards, it wasn't so bad.

You could not buy a house in those days without just assuming that the house was not only a place to live, but it was a good investment, because it was going to keep up with inflation or get ahead of inflation, and it was just - that was America.

By the time I became chairman and there was more of a feeling of urgency, there was a willingness to accept more forceful measures to try to deal with the inflation.

Well, I started out in the Federal Reserve as a young economist and spent about five years in the Federal Reserve Bank of New York.

Everybody down the line kept very meticulous records because Saddam told them, 'You get the surcharge from everybody,' ... So they all wanted to document how they got the surcharge.

Then it got corrupted with a capital C when Saddam figured out how to make money off of it by putting on the surcharges and kickbacks,

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.

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.

It was the biggest inflation and the most sustained inflation that the United States had ever had.