Friedrich Hayek Quotes

We have to remember there is not a big printing press in Washington that continually prints money over and over.

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

It is a way to take people's wealth from them without having to openly raise taxes. Inflation is the most universal tax of all.

Thus, the use of fiat money is more justifiable in financing a depression than in financing a war.

The Fed [Federal Reserve System], whether it likes it or not, is required to provide adequate reserves to the banking system in order for the government to finance its needs, even when that is inflationary.

There's no such thing as a painless cure for inflation.

The natural tendency of the state is inflation.

I think we do need to try to not just rely on the central bank to, in its wisdom, adjust interest rates, but allow for people to avoid being exposed to inflation risk.

Of course I welcome all the normalization of monetary policy. I think monetary policy should be normal.

I'm against using Petrobras to combat inflation.

Printing money is merely taxation in another form.

Inflation is the fiscal complement of statism and arbitrary government. It is a cog in the complex of policies and institutions which gradually lead toward totalitarianism .

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.

Printing money creates inflation, which weakens an economy. Unfortunately, this kind of common-sense thinking never seems to penetrate academic circles.

However, in spite of the general perception that monetary policy should be conducted so as to avert deflation, a central bank cannot lower interest rates below the zero lower bound.

Deflation isn't good, and inflation is easier to cure than deflation.

Since World War II, inflation - the apparently inexorable rise in the prices of goods and services - has been the bane of central bankers.

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.

A crucial responsibility of any central bank is to control inflation, the average rate of increase in the prices of a broad group of goods and services.

Many emerging countries are facing the same issue of overheating and inflation because they have been vigorously expanding fiscal and monetary policy to counter the 2008 shock.

Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel. These once unthinkable dosages will almost certainly bring on unwelcome after-effects. Their precise nature is anyone's guess, though one likely consequence is an onslaught of inflation.

If I am confirmed, I am confident that my colleagues on the Federal Open Market Committee and I will maintain the focus on long-term price stability as monetary policy's greatest contribution to general economic prosperity and maximum employment.

A good monetary policy follows inflationary expectations and not historical numbers.

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.

The central focus of what we are doing at the Fed is to keep inflation from accelerating - and preferably decelerating.