Timothy Geithner Quotes

Poland is one of the few countries that can afford to conduct a conventional monetary policy and that means we have to act against the buildup of imbalances in the economy.

I have never believed that central banks should have rigid inflation targeting. That is not a good thing to stabilize. There is nothing in economic theory to back this.

No one thinks of controlling inflation of a continental-sized country by holding back municipal tariffs. Macroeconomic stability cannot be achieved through microeconomic intervention.

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

Avoiding inflation is not an absolute imperative but rather is one of a number of conflicting goals that we must pursue and that we may often have to compromise.

The role of monetary policy is to smooth out business cycles by promoting steady inflation and healthy labor markets, but modern central bankers have taken an activist turn.

The Fed is totally open.

Low and stable inflation in many countries is an important accomplishment that will continue to bring significant benefits.

We made a decision that monetary policy will be made by an independent European Central Bank.

Domestic inflation reflects domestic monetary policy.

There is always the potential for a central bank to engage in discretionary monetary policy and to break the one-to-one link between changes in foreign reserves and changes in the money supply.

We should be humble about our ability to stimulate the economy with monetary policy.

Whip Inflation Now

Monetary policy should never have been expected to shift economies to a sustainably higher growth trajectory by itself.

I'm sure Mark Carney is a very clever young man, but I think that the government would be mad to move from inflation targeting to money GDP targeting.

The Fed's job is not to stall growth or to prevent economic 'overheating.' It is to keep prices stable and the dollar a strong and reliable currency.

The main long-run contribution monetary policy can make is to provide a stable macroeconomic and financial environment.

The two important variables for the policy formulation are projected inflation and the output gap. There is no clear hidebound mathematics that we must give 'X' weight to inflation and 'Y' weight to growth and form the associated policy.

Monetary policy should remain data dependent, be well communicated, and ensure that inflation expectations remain anchored.

The best way that a central bank can support growth on a durable basis is to ensure inflation is low, stable - there is financial stability - and that is the role that the central bank plays.

The Federal Reserve is incapable of accomplishing its stated objectives.

A snarky but accurate description of monetary policy over the past five years is that the Federal Reserve successfully replaced the technology bubble with a housing bubble

The Federal Reserve is the overlord of the money supply. If these two are not steering in the same direction, they can either neutralize each other or have the economy lurching in all directions. This is not a rational system for setting economic policy. It has given us trouble in the past, as the text will establish, and will inevitably in the future.

The goal of what Japan's central bank is doing is to create growth. If it actually creates growth, in the long run, it will lead to appreciation.

The government must do all it can to help reduce interest rates for business.