Pastoral Resources

Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hit man.

Median wages of production workers, who comprise 80 percent of the workforce, haven't risen in 30 years, adjusted for inflation.

The difficulty for Mr. Obama will be when the public sees where his decisions lead - higher inflation, higher interest rates, higher taxes, sluggish growth, and a jobless recovery.

I continue to believe that the American people have a love-hate relationship with inflation. They hate inflation but love everything that causes it.

Well, I think the global economy is in the position for continuing good growth with inflation well in check.

We have to keep our eye on inflation, but so far inflation remains reasonably in check on the global stage.

Moderation of oil prices would be very, very welcome. But overall I think we are in a position of stable growth, sustainable growth, and basically with inflation in check.

But clearly an economy that's growing and expanding like this one - and it certainly is doing that with high GDP output, employment numbers strong, capacity utilization strong - that's an environment in which the Fed needs to continually be alert to early signs of inflation.

I would say to my colleague that the misery index, inflation and unemployment, when added together is the lowest it has been in the last series of Presidents, even going back to Jimmy Carter. So I think the Bush administration is doing a good job.

Agency by agency, we frequently have lost a bit of ground, at least to inflation-but had it not been for the efforts we've made to educate people about the importance of science, technology and advanced education, those predictions very well might have come true.

If unemployment could be brought down to say 2 percent at the cost of an assured steady rate of inflation of 10 percent per year, or even 20 percent, this would be a good bargain.

Deficits do not in themselves produce inflation, nor does a balanced budget assure a stable price level.

Currently a level of unemployment of 7 percent or more seems to be required to keep inflation from accelerating, a level quite unacceptable as a permanent situation.

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.

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

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.

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.

You could not buy a house in those days without just assuming that the house was not only a place to live, but it was a good investment, because it was going to keep up with inflation or get ahead of inflation, and it was just - that was America.

Inflation is the senility of democracies.

I might say that when the settlement was made the Nixon administration issued what they called a second inflation alert in which the General Motors settlement was branded as being inflationary and bad for the country.