A Quote by John Kenneth Galbraith

Monetary policy suffers from the unfortunate absence of any occult effect. It has long been clear that economic management...would be greatly facilitated if resort could occasionally be had to witchcraft.

John Kenneth Galbraith

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Absence Any Been Clear Could Economic Effect Greatly Had Long Management Monetary Monetary Policy Occasionally Occult Policy Resort Suffers Unfortunate Witchcraft Would Would Be

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John Kenneth Galbraith
American - Economist
October 15, 1908 - April 29, 2006

All of the government's monetary, economic and political power, as well as its extensive propaganda machinery, will be enlisted in a constant battle to drive down the price of gold - but in the absence of any fundamental change in the nation's monetary, fiscal, and economic direction, simply regard any major retreat in the price of gold as an unexpected buying opportunity.

Irwin Schiff

Monetary policy is a blunt tool which certainly affects the distribution of income and wealth, although whether the net effect is to increase or reduce inequality is not clear.

Ben Bernanke

In effect, there has been a significant shortfall in the overall amount of monetary policy stimulus since early 2009.

Janet Yellen

It is an established scientific fact that monetary policy has had virtually no effect on output and employment in the U.S. since the formation of the Fed.

Edward C. Prescott

Beyond monetary policy, fiscal policy has traditionally played an important role in dealing with severe economic downturns.

Janet Yellen

The risk exists that, with aggregate demand exhibiting considerable momentum, output could overshoot its sustainable path, leading ultimately in the absence of countervailing monetary policy action to further upward pressure on inflation.

Ben Bernanke

I am shocked that Republicans can't explain why our technological and economic advantages are the result of sound monetary and economic policy.

Jack Kemp

Economic theory has demonstrated in an irrefutable way that a prosperity created by an expansionist monetary and credit policy is illusory and must end in a slump, an economic crisis.

Ludwig von Mises

When there's downward pressure on growth, one choice is to adjust economic policy, increase deficits, relax monetary policy. That might have a short-term benefit, but may not be beneficial for the future.

Li Keqiang

Of course I welcome all the normalization of monetary policy. I think monetary policy should be normal.

Elvira Nabiullina

I had in effect been thrown out of graduate school because I was a lousy graduate student, and I had to find a job, and I took the first job that came along. It happened to be a management trainee job in a life insurance company, and I just stayed. It was always, mainly, the idea was that I would support myself as a writer, and I knew I would have to have some sort of work, and it didn't make a whole lot of difference to me what it was. I mean, I could have been a paper hanger or something for that matter.

Ted Kooser

We need to have a clear moral vision for both our foreign policy, and economic policy and policy on racial justice.

Ro Khanna

We need to keep in mind the well-established fact that the full effects of monetary policy are felt only after long lags. This means that policy makers cannot wait until they have achieved their objectives to begin adjusting policy.

Janet Yellen

If I am confirmed, I am confident that my colleagues on the Federal Open Market Committee and I will maintain the focus on long-term price stability as monetary policy's greatest contribution to general economic prosperity and maximum employment.

Ben Bernanke

The monetary managers are fond of telling us that they have substituted 'responsible money management' for the gold standard. But there is no historic record of responsible paper money management ... The record taken, as a whole is one of hyperinflation, devaluation and monetary chaos.

Henry Hazlitt

One factor that favors easier adjustment in EMEs is that U.S. monetary policy normalization has been and should continue to be gradual, as long as the U.S. economy evolves roughly as expected.

Jerome Powell

A Quote by John Kenneth Galbraith

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