A Quote by Urjit Patel

It is important to recognise near- and medium-term risks to the inflation outlook. — © Urjit Patel
It is important to recognise near- and medium-term risks to the inflation outlook.
Whatever long-term advantages are claimed for Brexit it is overwhelmingly clear that in the short to medium term it carries risks to our economy and security.
My outlook on life is to be true. To take risks. To love the shadows as well as the light. To find your task. To recognise your task. To be active.
It seems that most of us could benefit from a brush with a near-fatal disaster to help us recognise the important things that we are too defeated or embittered to recognise from day to day.
We have a structural problem because you can simultaneously understand the medium to long-term risks of climate change and also come to the conclusion that it is in your short-term economic interest to invest in oil and gas. Which is why, you know, anybody who tells you that the market is going to fix this on its own is lying to you.
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.
There is good evidence that the catastrophist framing of climate change is self-defeating because it alienates and polarizes many people. And exaggerating climate change risks distracting us from other important issues including ones we might have more near-term control over.
My suspicion is that we're near a near-term low. The reality is the majority of the selling short-term is over with - the market doesn't want to go down.
The only way to ensure that inflation expectations remain safely anchored near the FOMC's target is to keep inflation close to that target on a consistent basis.
Near-zero policy rates that may be considerably expansionary in an economy with high inflation could be contractionary when inflation is too close to zero, or worse, deflation has set in.
I think democracies are prone to inflation because politicians will naturally spend [excessively] - they have the power to print money and will use money to get votes. If you look at inflation under the Roman Empire, with absolute rulers, they had much greater inflation, so we don't set the record. It happens over the long-term under any form of government.
Unless you invest in people, you are not going to see growth in the long term, the medium term, and maybe even the short term.
Although low inflation is generally good, inflation that is too low can pose risks to the economy - especially when the economy is struggling.
However, within the limits of the human, it is important to recognise our common humanity. I think that a perspective based on common human needs has the most chance of being accepted and this does not depend on any particular metaphysical outlook.
Whatever the short term clashes between protecting the environment and eradicating poverty, medium term and long term it is clear. Unless we grow sustainably, at some point we face catastrophe
It's nice to have short-term to medium-term things that we can apply and see real change in our products, but also have longer-term, five to 10 year goals that we're working toward.
Debasing your currency sometimes works in the short term, it has never worked in the long term and does not even usually work in the medium term. Lots of politicians like to do it because it is an easy way.
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