Maurice Hinchey Quotes

The Federal Reserve cannot solve all the economy's problems on its own.

When the economy shows signs of faltering, prompt countermoves are required. Even mild measures on the part of government can be effective in the early stages of an economic decline. ... If action is withheld until a recession has gained momentum, strong and costly measures may prove insufficient.

When the economy is growing, there's a lot that can be done to deal with the deficit.

It's going to be difficult to stimulate the real economy in the U.S. at a faster rate than 2 percent and perhaps even less if we have that fiscal cliff in December or January 2013.

Monetary policy and fiscal policy are inseparable.

Whatever the economy needs to maintain itself, the government will do it.

Monetary policy cannot do much about long-run growth, all we can try to do is to try to smooth out periods where the economy is depressed because of lack of demand.

This economy is not getting better and the president's policies are the reason.

Monetary policy is not a panacea.

In a great financial emergency nearly every country has, at one time or another, been tempted to confuse the monetary with the fiscal functions of the Treasury. To borrow by the issue of money seems to have a seductive charm hard to resist.

There is one policy for recession or depression and another for good times.

During an economic crisis, what matters is that the government keeps its foot on the accelerator.

If we were to raise interest rates too steeply, and we were to trigger a downturn or contribute to a downturn, we have limited scope for responding, and it is an important reason for caution.

Despite the impression created by some economic pundits, the U.S. economy is not a delicate little machine that needs to be fine-tuned with exact precision by benevolent policymakers to keep from breaking down.

I've always believed in expansionary monetary policy and if necessary fiscal policy when the economy is depressed.

Larger deficits are necessary and proper means to mitigate unemployment as the far greater evil in terms of human welfare.

Surely, the best and most effective measure is to get the economy moving and shorten the period of recession or slowdown. That's the rationale for Gordon Brown's 'fiscal stimulus' and it sounds like a good one to me.

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

Well obviously the economy is critical to everything we do and we need to get the economy back in shape, the deficit down, the debt paid off, so that the economy can grow again and grow properly.

Actually, I have been very supportive of a very robust stimulus package from day one. I think this economy has to have a major stimulus initiative because the only group with liquidity is the federal government.

The national debt is totally unlike a family budget for about a gazillion reasons, not the least of which being that families cannot raise money by fiat or deflate the size of their debt unilaterally and that family members die instead of existing infinitely.

Whoever controls the volume of money in any country is absolute master of all industry and commerce.

In the past, proactive fiscal polices almost always meant just more investment and an increase in the fiscal deficit.

You will never solve the American problems just by printing money.

To face deflation, you have to have people accepting it and not reacting to it.