Quotes About Policy

But the end of tightening seemed in sight.

in part because of a resurgence of the European crisis.

Soon it might make sense to leave rates where they were for a meeting or two while we assessed the economy's prospects.

Although austerity in the more troubled countries was probably unavoidable, given how indebted they were, it predictably pushed them deeper into recession.

purchases despite his unease.

MARKETS SEEMED TO anticipate QE2 and take it in stride.

worried that inflation might develop some momentum.

implying that we had not yet made up our minds whether to end our tightening campaign or to raise rates.

He has been very resistant" to capital injection,

The reality that small changes in the phrasing of the FOMC's statement could have important effects on policy expectations sometimes led us to spend what seemed like an inordinate amount of time on the choice of a single word.

in the aftermath of the Russian debt default.

I was warned not to comment in public on policy issues or to speak to the press.

The leadership of the Fed (especially the Chairman) must get aggressive.

could help convince markets that policy would remain easy for as long as needed to return inflation to our target.

Her instincts were too populist for us to see eye to eye on policy, however,

His great strength, cultivated over his years in government, was his focus on getting the policy right, whatever the obstacles.

But his analytical skills, particularly his ability to detect weaknesses in an argument, would make everyone around him better and lead to better policy.

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

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).

I agreed that it would have been better to tie our policy plans more directly to conditions in the economy rather than setting a date.

Formulating effective monetary policy requires timely information.