Quotes About Economics

It has to back its words with actions by adjusting monetary policy—usually by raising or lowering a benchmark interest rate—as needed to hit the inflation target over its stated time horizon.

As politically independent central bankers, we had to walk a fine line.

setting aside the most volatile prices leads to better predictions of overall inflation.

It was a real loss for the Fed and the country.

Economists are criticized for not being able to predict the future,

He has been very resistant" to capital injection,

by making it costly for them to refinance.

Why the support for subprime lending?

By March 2010, we would phase out the auctions completely.

we were right to stay the course on securities purchases.

once rates hit zero, it marked the exhaustion of monetary policy options.

The hawks (shorthand for policymakers who tended to worry more about inflation) did not sit at a different table than the doves (policymakers who tended to worry more about growth and employment).

Formulating effective monetary policy requires timely information.

meeting by summarizing key financial developments

might reduce the stigma of borrowing from the Fed.

in part because financial crises are (fortunately) rare enough that relevant data are scarce.

For me, one of the most important developments in Europe was a change in the leadership of the European Central Bank.

the increasing hostility of Republicans to the Fed and to me personally troubled me,

without appearing to be partisan.

At Greenspan's urging, we decided to wait before considering further action.

In any case, the funds rate, by itself, is relatively unimportant.

The mistake increased Bear's shareholders' bargaining power.

Inflation targeting, I argued, could help fill the information vacuum.

target. As the world has learned, too little inflation is just as bad as too much inflation.