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Monetary Policy Quotes

We’ve collected the best Monetary Policy Quotes from the greatest minds of the world: Elvira Nabiullina, Janet Yellen, Timothy Geithner, Ben Bernanke, Steve Hanke. Use them as an inspiration.

1
Of course I welcome all the normalization of monetary policy. I think monetary policy should be normal.
Elvira Nabiullina
2
The Global Financial Crisis and Great Recession posed daunting new challenges for central banks around the world and spurred innovations in the design, implementation, and communication of monetary policy.
Janet Yellen
3
Monetary policy itself cannot sensibly be directed at reducing imbalances.
Timothy Geithner
4
We need to keep in mind the well-established fact that the full effects of monetary policy are felt only after long lags. This means that policy makers cannot wait until they have achieved their objectives to begin adjusting policy.
Janet Yellen
5
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.
Ben Bernanke
6
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.
Steve Hanke
7
Monetary policy should remain data dependent, be well communicated, and ensure that inflation expectations remain anchored.
Gita Gopinath
8
It’s a challenge for monetary policy to communicate that our inflation objective is 2 percent.
Charles L. Evans
9
By the beginning of the 20th century, the debate about monetary policy and the nation‘s financial system had been going on for over a century. Increasingly, the shortcomings of the existing system were causing too much harm to ignore.
Jerome Powell
10
During the last campaign I knew what was happening. You know, they mocked me for my foreign policy and they laughed at my monetary policy. No more. No more.
Ron Paul
11
The fallacy of monetary policy in the U.S. is to believe this money will go to the man on the street. It won‘t. It goes to the Mayfair economy of the well-to-do people and boosts asset prices of Warhols… Very happy. Very good for the Fed. Congratulations, Mr. Bernanke.
Marc Faber
12
I think that is a very important milestone in our economic history that the monetary policy is now determined through a committee process where there are both independent committee members and representation from the RBI.
Urjit Patel
13
Monetary policy has less room to maneuver when interest rates are close to zero, while expansionary fiscal policy is likely both more effective and less costly in terms of increased debt burden when interest rates are pinned at low levels.
Ben Bernanke
14
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.
Toshihiko Fukui
15
Any debate among politicians about monetary policy is counterproductive.
Gerhard Schroder
16
There are limits to monetary policy.
Ben Bernanke
17
Domestic inflation reflects domestic monetary policy.
Martin Feldstein
18
If the public understands the central bank’s views on the economy and monetary policy, then households and businesses will take those views into account in making their spending and investment plans; policy will be more effective as a result.
Jerome Powell
19
The success of monetary policy should be judged by the economy’s performance against our statutory mandates of price stability and maximum employment.
Jerome Powell
20
While monetary policy can contribute to growth by supporting a durable expansion in a context of price stability, it cannot reliably affect the long-run sustainable level of the economy’s growth.
Jerome Powell
21
Beyond monetary policy, fiscal policy has traditionally played an important role in dealing with severe economic downturns.
Janet Yellen
22
I think that sharing information about our economies, the way that the central banks do in Basel and other forums, is quite useful. But it’s sharing information. It’s not coordinating policy. It’s not coordinating a single monetary policy.
Charles L. Evans
23
It’s true that monetary policy was too lax for too long, and the government encouraged lending to people who were unlikely to repay their loans.
Paul Singer
24
The Federal Reserve‘s monetary policy objective is to foster maximum employment and price stability. In this regard, a key challenge is to assess just how far the economy now stands from the attainment of its maximum employment goal.
Janet Yellen
25
Monetary policy cannot do much about long-run growth, all we can try to do is to try to smooth out periods where the economy is depressed because of lack of demand.
Ben Bernanke
26
Europe unified its monetary policy through the euro before it unified politically, therefore sustaining member countries‘ abilities to pursue the kind of independent fiscal policies that can strain a joint currency.
Amity Shlaes
27
Monetary policy causes booms and busts.
Edward C. Prescott
28
In principle, there are only three main components of spending that much matter to monetary policy: consumer spending, business investment and exports and trade.
Evan Davis
29
Monetary policy will, as always, respond to the economy’s twists and turns so as to promote, as best as we can in an uncertain economic environment, the employment and inflation goals.
Janet Yellen
30
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.
Marek Belka
31
When historical relationships are taken into account, it is difficult to ascribe the house price bubble either to monetary policy or to the broader macroeconomic environment.
Ben Bernanke
32
The supply-side effect of a restrictive monetary policy is likely to be perverse, in that high interest rates enter into costs and thus exert inflationary pressure.
William Vickrey
33
Monetary policy is one of the most difficult topics in economics. But also, I believe, a topic of absolutely crucial importance for our prosperity.
Maxime Bernier
34
Ethereum may make monetary policy decisions like, ‘Let’s do 1% inflation to support the ongoing development of the Ethereum protocol.’ A token built on Ethereum might want to do the same.
Fred Ehrsam
35
The monetary policy of the United States has a major impact on global liquidity and capital flows and therefore, the liquidity of the U.S. dollar should be kept at a reasonable and stable level.
Hu Jintao
36
The degree of monetary policy ease should be associated with the level of real interest rates, not nominal interest rates.
Athanasios Orphanides
37
I don’t want Congress setting monetary policy.
Richard Shelby
38
That means following a very restrictive fiscal and monetary policy which will squeeze the monopolies and cut their subsidies. On the micro level we will allow other economic agents, both domestic and foreign, to compete with them.
Vaclav Klaus
39
Monetary policy transmission encompasses the whole continuum of interest rates; of course, the central bank only determines the overnight policy rate.
Urjit Patel
40
Audit the Fed is a bill that would politicize monetary policy, would bring short-term political pressures to bear on the Fed. In terms of openness about our financial accounts, we are extensively audited.
Janet Yellen