Quotes About Monetary

The Fed is normally very profitable, since we typically earn a higher interest rate on our Treasury and mortgage-backed securities than we pay on the bank reserves that finance our holdings

Tight fiscal policies were arguably offsetting much of the effect of our monetary efforts.

thereby supporting the flow of credit to households and businesses.

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

The Federal Reserve, funded by earnings on our securities portfolio, remained open.

Formulating effective monetary policy requires timely information.

might reduce the stigma of borrowing from the Fed.

the hawks and doves alike exuded pessimism.

The better way to look at the distributional effect of monetary policy is to compare changes in the income flowing from capital investments with the income from labor.

Although FOMC members, hawks and doves alike, agreed it was time to wind down our emergency lending programs, they differed on when to begin rolling back our accommodative monetary policy.

As it turns out, easier monetary policy tends to affect capital and labor incomes fairly similarly.

would permit us to more aggressively loosen policy in support of job creation.

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

With little room to cut the funds rate further, how could we put downward pressure on longer-term rates?

stimulating demand and pushing inflation up toward our target.

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

it is similar to the central bank balance sheets of other major industrial countries.

leaving the overall size of its balance sheet unchanged.

we offered guidance, albeit vague, on our own expectations for monetary policy. We

The pace was much faster than at the Fed.

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

Unfortunately, for some major foreign economies, consistently achieving inflation goals has been difficult

On the other hand, job growth remained flat and inflation was still very low.

the stigma associated with borrowing from the Fed.