Quotes About Policy

I know it's hard to think of a $787 billion package as small, but its size must be compared with its objective of helping to arrest the deepest recession in seventy years in a $15 trillion U.S. economy.

might reduce the stigma of borrowing from the Fed.

much of the effect was offset by spending cuts and tax increases undertaken by state and local governments.

the hawks and doves alike exuded pessimism.

while the effect of Treasury purchases would be more broad-based.)

which would lead to further weakening in housing,

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.

Our September rate cut drew the usual mix of praise and criticism.

Each time, the move had proved premature and the bank was forced to reverse itself.

Still, in the interest of good planning, I thought it made sense for the FOMC to discuss and agree on the mechanics of normalizing policy. And

Nevertheless, I do not want the notion that Lehman's failure could have been avoided, and that its failure was consequently a policy choice, to become the received wisdom, for the simple reason that it is not true.

My relationship with Corker was complicated by frequent policy disagreements.

He told me that the Fed should do what it believed necessary.

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

the Committee would take a "balanced approach" in pursuing both price stability and maximum employment.

Congress would not take up reforms of this magnitude in a presidential election year.

Obama also urged streamlining overlapping regulatory agencies (without getting into specifics),

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

As always, I follow the economy closely. But it's liberating to read about policy debates knowing that someone else will have to make and defend the tough decisions.

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.

the consequences of not having a single fiscal authority for the eurozone became apparent.