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"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."
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"And so our goal on health care is, if we can get, instead of health care costs going up 6 percent a year, it's going up at the level of inflation, maybe just slightly above inflation, we've made huge progress. And by the way, that is the single most important thing we could do in terms of reducing our deficit. That's why we did it."
"Major policy reform in the petroleum sector. Under the new Hydrocarbon Exploration Licensing Policy, there will be pricing and marketing freedom and a transparent revenue-sharing methodology. This will eliminate many layers of bureaucratic controls."
"The world economy would collapse if a significant number of people were to realize and then act on the realization that it is possible to enjoy many if not most of the things that they enjoy without first having to own them."
"Belonging to the working class is the economy's punishment for those who did what they were told to do in class."
"India is undergoing profound transformations. We are today the fastest growing economy in the world. We want the Indian economy to be driven by smart and sustainable cities, robust farm sector, vibrant manufacturing and dynamic service sector. And, its engines to run on world class network of rails, roads, airports and digital connectivity."
"Thrift is poetic because it is creative, waste is unpoetic because it is waste."
"India is one of the world economy's brightest spots. We have low inflation, a low balance of payments current account deficit, and a high rate of growth. This is the result of good policy, not good fortune."
Explore more quotes by Paul A. Volcker
"Well, by the standards of a lot of countries, by Latin American standards, it wasn't so bad."
"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."
"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."
"I am suspicious of the idea of a new paradigm, to use that word, an entirely new structure of the economy."
"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."
"It was the biggest inflation and the most sustained inflation that the United States had ever had."
"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."
"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."
"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."
"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."
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