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

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

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

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.

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 idea that when people see prices falling they will stop buying those cheaper goods or cheaper food does not make much sense. And aiming for 2 percent inflation every year means that after a decade prices are more than 25 percent higher and the price level doubles every generation. That is not price stability, yet they call it price stability. I just do not understand central banks wanting a little inflation.