Paul A. Volcker

“A central bank has to be able to say no.”

“The most important thing a central bank can do is maintain its credibility. Credibility is a very fragile thing.”

“A nation's exchange rate is the single most important price in its economy.”

“I've always thought that the best central bankers are the ones that are boring.”

“The standard of living of the average American has to decline. I don't think you can escape that.”

“If you don't have a credible anchor, you don't have a credible monetary policy.”

“The truly disturbing thing is that the financial system is in some ways more vulnerable to crisis today than it was in 2008.”

“We have a system for managing monetary policy. We have a system for managing fiscal policy. But we don't have a system for managing the interface between them.”

“Inflation is the tiger that we have by the tail, and we'd better hang on.”

“You can't have a functioning market economy without a functioning government.”

“Sound money and a sound banking system are preconditions for a successful market economy.”

“Public service is a public trust.”

“The idea that we can fine-tune the economy is a fantasy.”