If, at the end of the day, we need to raise taxes, we should raise taxes. — 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 aiming for 2 percent inflation every year means that after a decade prices are more than 25 percent higher and the price level doubles every generation. That is not price stability, yet they call it price… — Paul Volcker Copy Share
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 less. [I]f the overriding objective is price stability, we did better with the nineteenth-century gold standard and passive central banks, with currency boards, or even with 'free banking.' The truly unique power of a central bank,… — Paul Volcker Copy Share
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
