A Quote by Ben Bernanke

The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.

Ben Bernanke

Quote Topics

Appointment Banker Benefit Brings Central Central Bank Credibility Fighting Increased Inflation

Quote Author

Ben Bernanke
American - Public Servant
Born: December 13, 1953

Of course, looking tough on inflation is part of any central banker's job description: if investors believe that inflation is going to get out of control, you end up with higher interest rates and capital flight, and a vicious circle quickly ensues.

James Surowiecki

No central banker would disagree with the proposition that inflation is primarily a monetary phenomenon. Not one of them will disagree that every inflation has been accompanied by a rapid increase in the quantity of money and every deflation by a decline in the quantity of money.

Milton Friedman

More and more people are becoming aware that government has nothing to give them without first taking it away from somebody else-or from themselves. Increased handouts to selected groups mean merely increased taxes, or increased deficits and increased inflation.

Henry Hazlitt

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

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

When people begin anticipating inflation, it doesn't do you any good anymore, because any benefit of inflation comes from the fact that you do better than you thought you were going to do.

Paul A. Volcker

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.

Ben Bernanke

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 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.

Urjit Patel

What is important for a central banker is that you have to convey that you know what you are doing.

Raghuram Rajan

For society to function some kind of reasonable balance has to be stuck between the competing interests of creditors and debtors. Although the mandate of the Bank of Canada was to maintain a delicate balance between encouraging growth and fighting inflation, the Bank opted to focus exclusively on fighting inflation. In doing so it came down heavily in favour of those with financial assets to protect, and against those whose primary need was employment.

Linda McQuaig

The last duty of a central banker is to tell the public the truth.

Alan Blinder

Every central banker in the world pays attention to credit growth, but not in the U.S.

Marc Faber

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 European Union is a union of the extreme center. It's a banker's union. You see how they operate in country after country, appointing technocrats to take over and run countries for long periods. They did it in Greece; they did it in Italy; they considered it in other parts of Europe.