Mo Udall Quotes

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

You have to change people’s minds to stop inflation.

I'm against using Petrobras to combat inflation.

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

The natural tendency of the state is inflation.

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

If Congress wanted to intervene with the Federal Reserve, well, we created the Federal Reserve. We could uncreate it. But would you want Congress regulating the money supply? We'd have drowned in inflation, or gone bankrupt, decades ago.

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

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.

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

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.

If by carelessness in controlling inflation and imposing controls on our general economy we are unable to meet these temporary but vital calls upon us, we will be courting real disaster.

Whip Inflation Now

Every time the Fed implements 'quantitative easing,' a.k.a. printing more money, two things go up: taxes and inflation. When taxes and inflation go up, more jobs are lost.

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.

By the time I became chairman and there was more of a feeling of urgency, there was a willingness to accept more forceful measures to try to deal with the inflation.

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 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.

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

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.

We have lost control over the financial system ... by printing much more money than in previous years.

Our purpose is to lean against the winds of deflation or inflation, whichever way they are blowing.

The history of interest rates is really the history of inflation. When inflation is high, interest rates are high, and when inflation is low, interest rates are low.

Experience shows that high and unstable inflation can harm growth. A noninflationary macroeconomic policy is, therefore, a prerequisite for rapid development. Control of government borrowing is the crucial element in such a policy. When public borrowing is excessive, governments are soon obliged to finance it by printing money, and rising inflation then follows.

Americans have seen the value of the dollar slowly decline due to the steady erosion of inflation.