The first lesson of economics is scarcity: There is never enough of anything to satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics

— Thomas Sowell

There are several measures that the Fed (or any central bank) can take to reduce the risk of falling into deflation. The U.S. Government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost

— Ben Bernanke, successor to Fed. Chairman Alan Greenspan: November, 2002 at the National Economists Club, Washington, D.C.