Henry Paulson Quotes

In short, both experience and economic theory imply that the US could now t to a more competitive dollar without experiencing either increased inflation or decreased economic growth.

A weaker currency is a national tariff. After we get a weaker currency, we have to take advantage of that. Or else, we will waste it once more in inflation and in the inability to raise competitiveness.

My theme this evening is that America needs a competitive dollar.

The question is not really about a shift to the economic cone where officers are writing about the balance of payments and the need for economic stabilization.

If the Federal Reserve pursues a strong dollar at home while the dollar becomes more competitive in global markets, we can achieve both price stability and a more balanced path of economic growth.

Chances are the movements of the euro as against the dollar will be relatively moderate.

If Australia finds it has a strong Australian dollar, and it has higher unemployment, then it would have to respond, and that would either be by increasing domestic demand or by weakening its own currency.

At present, financial crises occur, chiefly because the paper currency is redeemable in gold only.

[Pay no heed to] the old fetishes of so-called international bankers…. The sound internal economic system of a nation is a greater factor in its well-being than the price of its currency in changing terms of the currencies of other nations.

A stable currency and an excessive external debt are incompatible. A similar relation holds as between a country's currency and an excessive internal debt

Sometimes, if a country's currency is overvalued in real terms, and it looks like the current account is going to be in deficit for the foreseeable future, devaluation can make sense.

We want a money that some government mandarin can't just whisk into existence with a pen stroke.

From time to time, an excessively strong dollar may have negative short-term implications on the economy.

A stronger dollar increases U.S. dollar purchasing power.

The most important initiative you could take to improve the world economy would be to stabilize the dollar-euro rate.

In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.

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.

If a currency is to become a growing, an increasing reserve currency, there has to be not only a demand for it there has to be a supply of it.

If inflation-adjusted interest rates decline in a given country, its currency is likely to decline.

At some point, the dollar has to give. You can't just keep printing money, and monetizing debt, and buying bonds, without the dollar imploding.

Every central banker in the world pays attention to credit growth, but not in the U.S.

We are now preparing for the reform of the yuan's exchange rate system. For such reforms to take place, we need good economic conditions... and we need to do it under tight control.

Each money-printing exercise brings about unintended consequences. These unintended consequences are higher inflation rates than had no money been printed.

As for when to reform the yuan, there is no timetable yet.

Of course, looking tough on inflation is part of any central banker's job description: if investors believe that inflation is going to get out of control, you end up with higher interest rates and capital flight, and a vicious circle quickly ensues.