32 Quotes by Paul Volcker

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...

I wish someone would give me one shred of neutral evidence that financial innovation has led to economic growth – one shred of evidence.

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’s a whole different attitude toward public service than it once was. I tell you, we can all sit around in our old age and moan about it, but I think the administrative processes and the management effectiveness of the federal government are terrible!

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.