Ludwig von Mises Quotes

Whip Inflation Now

Inflation is a monetary phenomenon. It is made by or stopped by the central bank.

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.

I think the Fed is not designed to have effective tools to deal with the economy. It should settle for just controlling the money supply. And - if it insists, it can worry about inflation.

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

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

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

There's one thing that the Fed has been really good at cracking down on, and that's inflation.

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.

Always inflation comes gradually; is recognized too late; and can be cured only by ruthless political surgery, which, if delayed too long, proves futile.

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.

Inflation has always been an important resource of policies of war and revolution and why we also find it in the service of socialism.

After a long period in which the desired direction for inflation was always downward, the industrialized world's central banks must today try to avoid major changes in the inflation rate in either direction.

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

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

Domestic inflation reflects domestic monetary policy.

I reject the advice of those who think the only way to fight inflation is to throw millions of people out of work .... I guarantee you that I will not fight inflation with your jobs.

We simply cannot check inflation by keeping people out of work.

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.

During the 1970s, inflation expectations rose markedly because the Federal Reserve allowed actual inflation to ratchet up persistently in response to economic disruptions - a development that made it more difficult to stabilize both inflation and employment.

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

I have said repeatedly that the way to sustainable growth is to bring down inflation to much more reasonable levels.

The only way to ensure that inflation expectations remain safely anchored near the FOMC's target is to keep inflation close to that target on a consistent basis.

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

Janet Yellen at the FED is equivalent to having a biology schoolteacher who has never seen blood perform brain surgery.