Quotes About Economy

Spending when the math's not there and the numbers aren't there and if they look in the social security trust fund, it's filled with IOUs because the government's been pilfering it for years on end. We have to do something. We have to start having this discussion.

Sometimes market fears can be self-fulfilling, and a strong demonstration can avoid the worst outcomes.

but even there confidence was waning, notably overseas.

then monetary policy has at best only short-lived effects on output and employment.

As predicted, bankers remained nervous about the potential stigma of borrowing from the Fed.

Life is unpredictable," I told them, thinking of both my own career path and the economy and financial system's roller-coaster ride over the past seven and a half years. I also gave them a working definition of my chosen profession: "Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past were wrong. About the future, not so much.

That's why I often said that monetary policy was not a panacea—we needed Congress to do its part. After

the new administration was leaning toward moving consumer protection duties outside the Fed

The deepening slump was evident not only in government statistics but also in what we were hearing from business and community leaders around the country.

Congress opted for budget cuts and tax increases.

By that point, of course, subprime lending had already virtually ended.

It's not obvious, therefore, what officially declaring China to be a manipulator would accomplish.

The Treasury helped us solve this dilemma to some extent, by raising money in debt markets

Greenspan did not put a high priority on consumer protection.

I had found it difficult to choose, at the December meeting, between a quarter-point and a half-point rate cut.

The housing collapse and credit problems could feed on each other and fuel a more general downturn

the PDCF carried some stigma

But, despite all our efforts, panic persisted and credit remained frozen.

could have a stronger effect on the U.S. and global economies than if we acted alone.

Banks have spent hundreds of millions of dollars complying with the new rules and are not looking for a rollback.

the economy performs best if the central bank has the latitude to make monetary policy decisions in pursuit of maximum employment and stable prices,

For the good of our economy and our country, I hope that continues.

Improved financial conditions in turn seemed to be helping the economy. Payroll

On the demand side, tax cuts should lead to more consumer spending—although by how much depends on the form of the cuts and who receives them—