Quotes from Jerome Powell

The TMPG is the place where market participants recognize and address their responsibilities to each other.

By fostering the economic health and vitality of local communities throughout the country, community banks play a central role in our national economy. One important aspect of that role is to serve as a primary source of credit for the small businesses that are responsible for creating a substantial proportion of all new jobs.

Emerging market economies have long grappled with the challenges posed by large and volatile cross-border capital flows.

The success of monetary policy should be judged by the economy's performance against our statutory mandates of price stability and maximum employment.

The too-big-to-fail reform project is massive in scope. In my view, it holds real promise. But the project will take years to complete. Success is not assured.

As long as global financial conditions normalize in an orderly fashion, EMEs should have sufficient time to adjust.

The financial crisis involved significant failures in the functioning, regulation, and supervision of OTC derivatives markets.

The GSEs became powerful advocates for their own bottom lines, providing substantial financial support for political candidates who supported the GSE agenda.

It is quite plausible that the process of increased fragmentation of production across borders is subject to 'diminishing returns' and has its natural limits.

We need a national focus on increasing the sustainable growth rate of our economy.

Higher capital requirements increase bank costs, and at least some of those costs will be passed along to bank customers and shareholders. But in the longer term, stronger prudential requirements for large banking firms will produce more sustainable credit availability and economic growth.

The Federal Reserve and other central banks have adopted broad public policy objectives to guide the development and oversight of the payments system. At the Fed, we have identified efficiency and safety as our most fundamental objectives, as set forth in our Policy on Payment System Risk.

Perhaps the greatest challenge for the resolution of a systemic global bank is the possibility that public or private actors in different countries might take local actions that would cause the overall resolution to spin out of control.

AIG's failure revealed systemic problems in the OTC derivatives market that went well beyond the failure of a single market participant.

The financial crisis revealed important weaknesses in many areas of our financial system.

There is no risk-free path for monetary policy.

Risk management systems and controls may discourage or limit certain revenue-generating opportunities. Failure to ensure the independence of these functions from the revenue generators and risk takers has been shown to be dangerous, and this is something for which the board is accountable.

There is certainly a role for regulation, but regulation should always take into account the impact that it has on markets, a balance that must be constantly weighed.

The only way to ensure that inflation expectations remain safely anchored near the FOMC's target is to keep inflation close to that target on a consistent basis.

The overwhelming majority of new mortgages are issued with government backing in a highly concentrated securitization market. That leaves us with both potential taxpayer liability and systemic risk.

Mobile devices, high-speed data communication, and online commerce are creating expectations that convenient, secure, real-time payment and banking capabilities should be available whenever and wherever they are needed.

While monetary policy can contribute to growth by supporting a durable expansion in a context of price stability, it cannot reliably affect the long-run sustainable level of the economy's growth.

Higher asset prices increase wealth and, with a lag, induce higher spending.

The banking industry has traditionally been characterized by physical branches, privileged access to financial data, and distinct expertise in analyzing such data.