That day the U.S. announced that the dollar would be devalued by 10 percent. By switching the yen to a floating exchange rate, the Japanese currency appreciated, and a sufficient realignment in exchange rates was realized. Joint intervention in gold… — Paul Volcker Copy Share Image
The idea that when people see prices falling they will stop buying those cheaper goods or cheaper food does not make much sense. And… — Paul Volcker Copy Share Image
A nation's exchange rate is the single most important price in its economy; it will influence the entire range of individual prices, imports and… — Paul Volcker Copy Share Image
I wish someone would give me one shred of neutral evidence that financial innovation has led to economic growth — one shred of evidence. — Paul Volcker Copy Share Image
It is a sobering fact that the prominence of central banks in this century has coincided with a general tendency towards more inflation, not… — Paul Volcker Copy Share Image
It's a whole different attitude toward public service than it once was. I tell you, we can all sit around in our old age… — Paul Volcker Copy Share Image
If, at the end of the day, we need to raise taxes, we should raise taxes. — Paul Volcker Copy Share Image
When I hear complaints about less liquidity, remember there is such a thing as too much liquidity. — Paul Volcker Copy Share Image
That day the U.S. announced that the dollar would be devalued by 10 percent. By switching the yen to a floating exchange rate, the… — Paul Volcker Copy Share Image
![“It is a sobering fact that the prominence of central banks in this century has coincided with a general tendency towards more inflation, not less. [I]f the overriding objective is price stability, we did better with the nineteenth-century gold standard and passive central banks, with currency…” quote by Paul Volcker](https://sms4smile.com/quotes/img-quotes/1ab/paul-volcker-37701_banking_it-is-a-sobering-fact-that-the-prominenc_1339309.jpg)
