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 exports, and even the level of economic activity. So it is hard for any government to ignore large swings in its exchange rate.

I wish someone would give me one shred of neutral evidence that financial innovation has led to economic growth — one shred of evidence.

It was probably a mistake to allow gold to rise so high.

I am suspicious of the idea of a new paradigm, to use that word, an entirely new structure of the economy.

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.

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 exports, and even the level of economic activity. So it is hard for any government to ignore large swings in its exchange rate.

The only thing useful banks have invented in 20 years is the ATM.