Quotes About Central banks

Existe una gran controversia sobre si los bancos centrales deben ser más independientes o no. Alguna evidencia indica que las tasas de inflación pueden ser menores, pero hay poca evidencia de que mejoran las variables reales como el crecimiento o el paro. No pretendo resolver aquí esta polémica sino subrayar que, dada la controversia, no se debe imponer a un país una visión particular

Success of bitcoin and the exchanges that deal in it could be interpreted by some to mean the demise of central banks, Wall Street, and the Washington insiders who trade on inside information and market manipulation.

Japan's experience suggests the importance of assessing the sustainability of price stability over a fairly long period, which many central banks have emphasized in recent years.

As you know, in the latter part of 2008 and early 2009, the Federal Reserve took extraordinary steps to provide liquidity and support credit market functioning, including the establishment of a number of emergency lending facilities and the creation or extension of currency swap agreements with 14 central banks around the world.

The world's central banks and the International Monetary Fund still have vaults full of bullion, even though currencies are no longer backed by gold. Governments hold on to it as a kind of magic symbol, a way of reassuring people that their money is real.

The Federal Reserve and other central banks have adopted broad public policy objectives to guide the development and oversight of the payments system. At the Fed, we have identified efficiency and safety as our most fundamental objectives, as set forth in our Policy on Payment System Risk.

In 2008, when Lehman Brothers collapsed, we anticipated that Europe was going to have a very different bailout scheme than the U.S. because of their different political systems and different relationships between the central banks and the fiscal authorities.

I think that many central banks and financial authorities understand that any long term attempt to compete through an artificial depreciation of their currency will not be very effective in the long term.

I have never believed that central banks should have rigid inflation targeting. That is not a good thing to stabilize. There is nothing in economic theory to back this.

I am pretty sure central banks will continue to print money, and the standards of living for people in the western world, not just in America, will continue to decline because the cost of living increases will exceed income. The cost of living will also go up because all kinds of taxes will increase.

What if people could use the Internet to create a new kind of money, one that didn't involve governments and central banks and could be used anonymously, like cash?

Central banks need to be able to buy bonds if there are short-term malfunctions of the markets. But buying bonds without differentiation and without limits would be very problematic.

Pierpont was amenable to central banks so long as they were private and had boards composed of bankers.

In an ironic outcome unforeseen by reformers, it would become the private bank of choice for central banks throughout the world, giving it an incalculable new advantage.

I don't think central banks are going to give up fiat currency anytime in my lifetime.

The Obama administration, seemingly without any concern or worry, funneled money around U.S. law through foreign central banks to provide a state sponsor of terrorism with $400 million in blood money for American hostages.

In 1977, when I started my first job at the Federal Reserve Board as a staff economist in the Division of International Finance, it was an article of faith in central banking that secrecy about monetary policy decisions was the best policy: Central banks, as a rule, did not discuss these decisions, let alone their future policy intentions.

The financial system has to be regulated, we have to end with the tax havens, and it's necessary that the central banks in the world should control a little bit the banks' financing because they cannot bypass a certain range of leverage.

It seems to me that a market exchange rate which is not artificially controlled by central banks enables one to balance the interests of different market players - exporters and importers, investors, borrowers, lenders.

After a long period in which the desired direction for inflation was always downward, the industrialized world's central banks must today try to avoid major changes in the inflation rate in either direction.

I will say this: the central banks can actually support growth beyond a point. When there is no inflation, they can cut interest rates, and that is the way they support growth, but if you cut interest rate to the bone, there is nothing more to cut. It is very hard to support growth beyond that.

The Global Financial Crisis and Great Recession posed daunting new challenges for central banks around the world and spurred innovations in the design, implementation, and communication of monetary policy.

Although I believe, like Bagehot, that central banks are inherently destabilising, that doesn't mean that you cannot have financial and economic instability without a central bank. Decentralised monetary systems, if poorly regulated, can also be unstable;

Many other central banks hold press conferences, some as frequently as monthly, and adopting the practice seemed the natural next step for increasing transparency at the Fed.