Monetary policy Quotes
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“If the State uses this power systematically in order to force the community to accept a particular sort of money whose employment it desires for reasons of monetary policy, then it is actually carrying through a measure of monetary policy. The States which completed the transition to a gold standard a generation ago, did so from motives of monetary policy. They gave up the silver standard or the credit-money standard because they recognized that the behaviour of the value of silver or of credit money was unsuited to the economic policy they were following.”
Ludwig von Mises
“He who cares to go to the trouble of demonstrating the uselessness of index numbers for monetary theory and the concrete tasks of monetary policy will be able to select a good proportion of his weapons from the writings of the very men who invented them.”
Ludwig von Mises, The Theory of Money and Credit“This book (Jarod Kintz's book) is trash. I mean, I assume it is, because that's where I found it while scrounging for lunch. However, I must admit that I haven't read it. I would have, but I am homeless, mainly due to my illiteracy (though Big Government, Keynesian monetary policy, and my struggle with alcoholism certainly played a large role).”
Dora J. Arod“Monetary policy does not work like a scalpel but more like a sledgehammer.”
Liaquat Ahamed“Inflationism is that monetary policy that seeks to increase the quantity of money.”
Ludwig von Mises, The Theory of Money and Credit“The phrase 'perception is reality' is overused generally. But perception can be reality in monetary policy. The bond market doesn't act merely on what it sees. It acts on what it expects of the Fed or the government.”
Amity Shlaes“The Global Financial Crisis and Great Recession posed daunting new challenges for central banks around the world and spurred innovations in the design, implementation, and communication of monetary policy.”
Janet Yellen“Economics should be defined in terms of what it is about. It should be about how people produce things, how people exchange them, how people earn income, how they pay taxes, how the government provides infrastructure with tax revenue, and how it conducts monetary policy. The subject has to be defined in terms of the object of inquiry.”
Ha-Joon Chang“In 1977, when I started my first job at the Federal Reserve Board as a staff economist in the Division of International Finance, it was an article of faith in central banking that secrecy about monetary policy decisions was the best policy: Central banks, as a rule, did not discuss these decisions, let alone their future policy intentions.”
Janet Yellen“The oldest and most popular instrument of etatistic monetary policy is the official fixing of maximum prices. High prices, thinks the etatist, are not a consequence of an increase in the quantity of money, but a consequence of reprehensible activity on the part of 'bulls' and 'profiteers'; it will suffice to suppress their machinations in order to ensure the cessation of the rise of prices. Thus it is made a punishable offence to demand, or even to pay, 'excessive' prices.”
Ludwig von Mises, The Theory of Money and CreditAll in One Creative & Marketing Platform to tell stories at scale
