“It was the biggest inflation and the most sustained inflation that the United States had ever had.”
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It was the biggest inflation and the most sustained inflation that the United States had ever had.
Paul A. Volcker 
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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.
Paul A. Volcker
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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.
Paul A. Volcker
52% of people like this quote