Quotes About Central banks

I found myself becoming increasingly interested in the policy frameworks that central banks use, and in how those frameworks might be improved.

For me personally and for the entire Fed, Don's retirement was a great loss. He is an outstanding economist and a wise policymaker, admired and trusted by colleagues throughout the Federal Reserve System and at central banks around the world.

In the old days we were the challenger brand competing against the big banks, but today I go round the world and I sit with governors of central banks and finance ministers and, in some cases, prime ministers. They all know Travelex. We are regarded as the establishment - the world's largest retailer of foreign currency.

The Fed has been acting in rare concert with central banks worldwide to encourage borrowing and spending - and risk. And because all the new money being unleashed has to flow somewhere, it's been flowing, among other places, into the equity markets.

The Federal Reserve, like other central banks, wields powerful tools; democratic accountability requires that the public be able to see how and for what purposes those tools are being used.

People that's in power - the central banks, these fiat currencies that are traded globally - they got influence over the messaging and the narrative in the media.

Earnings don't move the overall market; it's the Federal Reserve Board... focus on the central banks, and focus on the movement of liquidity... most people in the market are looking for earnings and conventional measures. It's liquidity that moves markets.

There is no doubt in my mind that as central banks begin to abandon the dollar, there will be an enormous amount of monetary demand for silver and the silver ratio will plummet. If you look at all of the monetary crises over the last 100 years, any time that there has been even a whiff of a collapse of the dollar, the silver ratio has soared.

The fear is that if the dollar falls below 50% of the currency basket held by commercial and central banks and insurance companies, there may be a democratization of the way currencies are priced.

What if, instead, central banks tackled such deep recessions by issuing new money directly to every household as windfall cash to be used specifically for paying down debts—an idea that has come to be known as 'People's QE'.52 Rather than inflating the price of bonds, which tends to benefit wealthy asset owners, this approach—which resembles a one-off tax rebate for all—would benefit indebted households.

Democracies in which there are no significant political choices to be made, where economic policy is all that really matters—and where economic policy is now largely determined by nonpolitical actors (central banks, international agencies, or transnational corporations)—must either cease to be functioning democracies or accommodate once again the politics of frustration, of populist resentment.

A supplementary 180-page U.S. government report issued that spring (June 2, 1998) provided more evidence that neutral countries, including the Vatican, had profited by hiding Nazi gold in their central banks.50

As the banks took over the securities, the ratios between their capital and their assets lurched down towards their regulatory minima. Central banks in the United States and Europe sought to alleviate the pressure on the banks with interest rate cuts

Europe's central banks had nearly all committed themselves to the gold standard by 1908; that meant that they nearly all had to target their gold reserves, raising rates (or otherwise intervening) if they experienced a specie outflow. At the very least, this simplified life for investors, by reducing the risk of large exchange rate fluctuations.

without easy credit creation a true bubble cannot occur. That is why so many bubbles have their origins in the sins of omission or commission of central banks.

Much sooner, and to a much greater extent than in Britain, the German and Austrian authorities had to turn to their central banks for short-term funding.

What happens at the Fed, what Janet Yellen and the other people decide there, what happens in central banks in other parts of the world is very important. This can make the difference between a high unemployment rate, a slow recovery or a more rapid recovery.

The actions taken by central banks and other authorities to stabilize a panic in the short run can work against stability in the long run if investors and firms infer from those actions that they will never bear the full consequences of excessive risk-taking.

There's no doubt that decisions made by the leading central banks do affect the global financial markets and, consequently, our situation.

The States is run by the Federal Reserve, an institution that answers only to itself and to a few large banks. It's modelled on the Bank of England. Ben Franklin said that one of the main reasons America revolted was to get away from the Bank of England, the mother of all central banks - the most pernicious and insidious of all.

When you have steady inflows and global central banks hell-bent on stoking credit activity and inflation, money will flow into the most attractive areas.

All the central banks are doing is substituting one form of debt with another form of debt. They're issuing short term debt and using it to buy long term debt. In finance, we tend to think that's a neutral activity, even though those stimulus programs are huge.

In the economy of the cuckoo people that populate central banks, everything is possible. What you have is gigantic bubbles, the NASDAQ in 2000, then the housing bubble and then commodities in 2008 when oil went from $78 to $147 before plunging to $32 within six months.

I think that sharing information about our economies, the way that the central banks do in Basel and other forums, is quite useful. But it's sharing information. It's not coordinating policy. It's not coordinating a single monetary policy.