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Inflation outstripped real wages for people who work for pay from others.

When you are growing at a rapid rate, there is bound to be some inflation. I think a 5% rate of inflation is something that we should take in our stride.

In reality there is no such thing as an inflation of prices, relatively to gold. There is such a thing as a depreciated paper currency.

Inflation is the crabgrass in your savings.

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.

The thing that surprised me the most is just how much money women that weren't rich were paying for their hair. When you're in a beauty parlor in Harlem next to abandoned buildings and somebody's paying five grand for a weave, that's a bit much.

Although most Americans apparently loathe inflation, Yale economists have argued that a little inflation may be necessary to grease the wheels of the labor market and enable efficiency-enhancing changes in relative pay to occur without requiring nominal wage cuts by workers.

In the simplest terms, inflation occurs when there's too much money in the system. On the flip side, deflation occurs when there are too few dollars in circulation.

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.

Thirty years ago, many economists argued that inflation was a kind of minor inconvenience and that the cost of reducing inflation was too high a price to pay. No one would make those arguments today.