Paul Volcker quotes
Paul Volcker was an American economist who served as Chairman of the Federal Reserve from 1979 to 1987. His leadership helped tame the high inflation that plagued the U.S. economy during the late 1970s and early 1980s. He is remembered as a decisive and influential figure in modern financial policy. Here are 12 of his quotes:
Mehrling: So you didn't read at that time the classic banking texts, for example, Bagehot's Lombard Street?
Volcker: Well I read some of Bagehot, and I read a lot of Hawtrey. I remember I read a lot of Hawtrey.
Mehrling: Currency and Credit? The Art of Central Banking?
Volcker: I don't remember the names of the books, just being in London. In those days I used to read The Economist and the Financial Times, so I kept up with what was going on in the money markets.
Paul Volcker
The happy days of Bretton Woods, often viewed today with nostalgia, were a special case, workable because of a particular economic and political setting... the inherent contradictions in the system were too great. With the benefit of hindsight, it would seem that an erosion of the United States competitive position was implicit in the postwar arrangements.
Paul Volcker
We live in a world in which individuals and businessmen... they want to do so unencumbered by national boundaries. At the same time, modern democracies, at least as much as other forms of government, long for autonomy; they want to control their own destinies in ways responsive to the needs of an electorate often concerned less with national than with local or sectorial interests. Yet, theory and experience indicate we can't have it both ways, full integration and full autonomy.
Paul Volcker
Paul Volcker
Occupation: American EconomistBorn: September 5, 1927
Died: December 8, 2019
Quotes count: 12
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