Paul Volcker Quotes

The only thing useful banks have invented in 20 years is the ATM.

The standard of living of the average American has to decline.

I wish someone would give me one shred of neutral evidence that financial innovation has led to economic growth — one shred of evidence.

It was probably a mistake to allow gold to rise so high.

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.

When I hear complaints about less liquidity, remember there is such a thing as too much liquidity.

A global economy requires a global currency.

Double-digit inflation is a terrible thing - and it got up to 14 or 15 percent on a monthly basis for a while, shortly after I became chairman of the Fed.

I am suspicious of the idea of a new paradigm, to use that word, an entirely new structure of the economy.

It was the biggest inflation and the most sustained inflation that the United States had ever had.

If, at the end of the day, we need to raise taxes, we should raise taxes.