Amity Shlaes Quotes

However, in spite of the general perception that monetary policy should be conducted so as to avert deflation, a central bank cannot lower interest rates below the zero lower bound.

Monetary policy is a blunt tool which certainly affects the distribution of income and wealth, although whether the net effect is to increase or reduce inequality is not clear.

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.

Of course I welcome all the normalization of monetary policy. I think monetary policy should be normal.

The monetary policy committee could either keep rates constant, increase them, or bring them down. There are three options possible compared to when it is accommodative.

Inflation is the fiscal complement of statism and arbitrary government. It is a cog in the complex of policies and institutions which gradually lead toward totalitarianism .

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.

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

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

To protect people's lives and keep our children safe, we must implement public-works spending and do so proudly. If possible, I'd like to see the Bank of Japan purchase all of the construction bonds that we need to issue to cover the cost. That would also forcefully circulate money in the market. That would be positive for the economy, too.

The Fed is totally open.

The Federal Reserve can only buy Treasuries and agencies, and moreover quantitative easing typically involves buying longer-term Treasuries and agencies in terms of bills, for example.

If you have a traditional view of economics, you're probably thinking of Ben Bernanke making Fed policy, or the guys creating financial derivatives at Goldman Sachs.

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.

A good monetary policy follows inflationary expectations and not historical numbers.

Any debate among politicians about monetary policy is counterproductive.

Well, I think as long as people are talking about stimulus, I think the Fed will be thinking about cutting rates because monetary policy is the better way to go because you can turn it on and turn it off.

There are limits to monetary policy.

I do not think it is an exaggeration to say history is largely a history of inflation, usually inflations engineered by governments for the gain of governments.

I’ve always been a little nervous about the Fed. Quite frankly, I’m a little nervous about the degree of their independence.

The normal half-brained politician sometimes doesn't understand capital markets.

Monetary policy and fiscal policy are inseparable.

Bond traders now veto presidents.

Washington doesn't understand interest rates and Wall Street doesn't understand Washington.

If you move up the timetable of when we disclose the transcript of our Open Market Committee, … you will affect what is said and the way that it is said.