Urjit Patel Quotes

I believe that high, sustainable growth rates can only be possible on the basis of macro-stability.

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

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.

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.

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

Moderation of oil prices would be very, very welcome. But overall I think we are in a position of stable growth, sustainable growth, and basically with inflation in check.

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

The Fed needs an approach that consolidates the gains of the Greenspan years and ensures that those successful policies will continue - even if future Fed chairmen are less skillful or less committed to price stability than Mr. Greenspan has been.

And I am convinced that a single focus on preserving the purchasing power of the dollar, in effect, guarding against inflation or deflation, actually creates a solid foundation for the greatest job growth and the strongest economy that America can have.

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

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.

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

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.

For risk management reasons, we need to make sure we hit our inflation objective at the same time we're at full employment.

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

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.

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

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

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.

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.

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.

I don't think I've been too optimistic. The government believes the contraction will be around 1.5 per cent, as the central bank said. However, we're waiting to see the Commission estimate.

Our mission, as set forth by the Congress is a critical one: to preserve price stability, to foster maximum sustainable growth in output and employment, and to promote a stable and efficient financial system that serves all Americans well and fairly.

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