Marek Belka Quotes

I am strongly committed to pursuing the dual goals that Congress has assigned us: maximum employment and price stability.

The government will always tell you that it wants low inflation. The real issue is the horizon over which to bring inflation down.

It was gradually learned that acceptance of a somewhat higher inflation rate would not really bring somewhat higher employment.

During the past two decades, inflation has fallen to a low level in major industrial countries.

People forget how difficult it is to stop inflation or get it under control… I worry about it all the time.

The issue is, you're not going to have a lot of inflation showing up when you have no velocity.

Ask me whether inflation represents longer-term problem. I think there's a potential there for excess reserves to create problems.

We have been mandated by the government, backed by legislation, that we have to have an inflation target of about 4%.

Japan's experience suggests the importance of assessing the sustainability of price stability over a fairly long period, which many central banks have emphasized in recent years.

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 unemployment could be brought down to say 2 percent at the cost of an assured steady rate of inflation of 10 percent per year, or even 20 percent, this would be a good bargain.

We pay some price when necessary to bring down inflation but that price is temporary and is not large relative to the permanent gain from reduced inflation.

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.

Thus, the questions we should ask here are what makes the current economic upswing different from the past two recoveries, and whether such differences are sufficient for the economy to reach the sustained growth path.

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.

Popular as Keynesian fiscal policy may be, many economists are skeptical that it works. They argue that fine-tuning the economy is a virtually impossible task, and that fiscal-stimulus programs are usually too small, and arrive too late, to make a difference.

We have to keep our eye on inflation, but so far inflation remains reasonably in check on the global stage.

When you are growing at a rapid rate, there is bound to be some inflation. I think a 5% rate of inflation is something that we should take in our stride.

If global oil prices or commodity prices are high, then it is bound to create inflation. So, we should not be too worried if the inflation is created by global commodity prices. When they come down, inflation will automatically come down.

Production is the only answer to 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.

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

Bernanke and company are trying to reflate the economy with almost stated objective of inflation at 2 percent and higher in order to provide some type of safety margin for a future recession. That's where they want to go.

Deficits do not in themselves produce inflation, nor does a balanced budget assure a stable price level.

Well, I think the global economy is in the position for continuing good growth with inflation well in check.