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.
More Quotes from Paul A. Volcker:
Less emphasis on inventories, I think, may tend to dampen business cycles, because business cycles are typically in the grasp of inventory cycles and heavy industry cycles.Paul A. Volcker
By the time I became chairman and there was more of a feeling of urgency, there was a willingness to accept more forceful measures to try to deal with the inflation.
Paul A. Volcker
What's the subject of life - to get rich? All of those fellows out there getting rich could be dancing around the real subject of life.
Paul A. Volcker
I am suspicious of the idea of a new paradigm, to use that word, an entirely new structure of the economy.
Paul A. Volcker
The speed of communication, the speed of information transfer, the cheapness of communication, the ease of moving things around the world are a difference in kind as well as degree.
Paul A. Volcker
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