A Quote by Murray Rothbard

The drum-fire of propaganda that the Fed is manning the ramparts against the menace of inflation brought about by others is nothing less than a deceptive shell game. The culprit solely responsible for inflation, the Federal Reserve, is continually engaged in raising a hue-and-cry about 'inflation,' for which virtually everyone else in society seems to be responsible. What we are seeing is the old ploy by the robber who starts shouting 'Stop, thief!' and runs down the street pointing ahead at others.

Murray Rothbard

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Murray Rothbard
American - Economist
March 2, 1926 - January 7, 1995

So: if the chronic inflation undergone by Americans, and in almost every other country, is caused by the continuing creation of new money, and if in each country its governmental "Central Bank" (in the United States, the Federal Reserve) is the sole monopoly source and creator of all money, who then is responsible for the blight of inflation? Who except the very institution that is solely empowered to create money, that is, the Fed (and the Bank of England, and the Bank of Italy, and other central banks) itself?

Murray Rothbard

The essence of the problem is that the war against inflation is over, ... Ever since 1979 the Fed was fighting a war against inflation, and you always knew which way you wanted the inflation rate to go over the long run -- down.

Paul McCulley

During the 1970s, inflation expectations rose markedly because the Federal Reserve allowed actual inflation to ratchet up persistently in response to economic disruptions - a development that made it more difficult to stabilize both inflation and employment.

Janet Yellen

Because food and energy prices are volatile, it is often helpful to look at inflation excluding those two categories - known as core inflation - which is typically a better indicator of future overall inflation than recent readings of headline inflation.

Janet Yellen

The most important thing to remember is that inflation is not an act of God, that inflation is not a catastrophe of the elements or a disease that comes like the plague. Inflation is a policy.

Ludwig von Mises

What people today call inflation is not inflation, i.e., the increase in the quantity of money and money substitutes, but the general rise in commodity prices and wage rates which is the inevitable consequence of inflation.

Ludwig von Mises

Models used to describe and predict inflation commonly distinguish between changes in food and energy prices - which enter into total inflation - and movements in the prices of other goods and services - that is, core inflation.

Janet Yellen

Until the Fed dumps inflation targeting and the U.S. abandons its weak-dollar policy, inflation will rule the day.

Steve Hanke

Less is always more. The best language is silence. We live in a time of a terrible inflation of words, and it is worse than the inflation of money.

Eduardo Galeano

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

Raghuram Rajan

At the end of the day, inflation has been below 2% for quite a long time, and to me, symmetry means getting somewhere above 2% inflation at some point in my Fed career.

Charles L. Evans

I'm just opposed to a pure inflation-only mandate in which the only thing a central bank cares about is inflation and not employment.

Janet Yellen

With the sugar market hysteria, the people are obviously worried and expect higher inflation. When this hysteria subsides, which we're probably observing, then I hope that people will also get less worried about the future of inflation.

Marek Belka

The unique aspect of today's monetary inflation is that it is not limited to one country, but a host of countries are all inflating together. As a result of the monetary inflation (when all of the newly created money begins to leave the banks and enter the system), the price inflation will be worldwide.

Peter DeGraaf

If global oil prices or commodity prices are high, then it is bound to create inflation. So, we should not be too worried if the inflation is created by global commodity prices. When they come down, inflation will automatically come down.

Adi Godrej

I would be uncomfortable raising the federal funds rate if readings on wage growth, core consumer prices, and other indicators of underlying inflation pressures were to weaken, if market-based measures of inflation compensation were to fall appreciably further, or if survey-based measures were to begin to decline noticeably.

Janet Yellen

A Quote by Murray Rothbard

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