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.
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.
It’s a challenge for monetary policy to communicate that our inflation objective is 2 percent.
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.
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.
Any debate among politicians about monetary policy is counterproductive.
There are limits to monetary policy.
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.
The success of monetary policy should be judged by the economy’s performance against our statutory mandates of price stability and maximum employment.
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.
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.
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.
Monetary policy causes booms and busts.
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.
Monetary policy is one of the most difficult topics in economics. But also, I believe, a topic of absolutely crucial importance for our prosperity.
The degree of monetary policy ease should be associated with the level of real interest rates, not nominal interest rates.
Monetary policy transmission encompasses the whole continuum of interest rates; of course, the central bank only determines the overnight policy rate.