Harry Reid Quotes

There's no hidden secrets going on in the Federal Reserve...

There is no entity in the world that controls our lives more than the Federal Reserve System

I think the role of the Federal Reserve is enormously exaggerated.

There's no other job in public life that is like chairman of the Fed.

I was Chairman of the Federal Reserve Bank of Kansas City. As you know, there are twelve banks and they have their citizens board, and I got elected to the Fed Chairmanship for the Federal Reserve Kansas City Bank back in the mid-'90s. It might have been 1995-'96.

To some extent the Federal Reserve considers itself government. Other times, when it serves, it considers itself not government.

The regional Federal Reserve banks are not government agencies. ...but are independent, privately owned and locally controlled corporations

Some people think that you can call they Federal Reserve and ask them what they are doing. I’ve been calling the Fed for 30 years and they have never told my anything.

The RBI is interacting with the banks every day.

This is very intriguing to think we should audit the Fed, but I discovered that probably if they audited the Fed, it would get a clean bill because it's undoubtedly doing exactly what it's supposed to do according to the law.

When I did my research on this topic, I came to the startling conclusion that the Federal Reserve System does not need to be audited - it needs to be abolished.

No major institution in the US has so poor a record of performance over so long a period as the Federal Reserve, yet so high a public reputation.

In the past, Federal Reserve chairmen have not generally gone directly to the public.

The Federal Reserve Act requires the Federal Reserve to report annually on its operations and to publish its balance sheet weekly.

And let the Fed sell bonds to bring bank reserves back down to required reserve levels, so we have restraint on bank lending and bank issuances of liability.

The Fed is totally open.

The Fed's policy choices can always be debated, but the quality and commitment of the Federal Reserve as a public institution is second to none, and I am proud to lead it.

All the Federal Reserve can do is make loans against collateral.

My preference is for the Federal Reserve to be the systemic risk regulator, because the responsibility for identifying and limiting potential problems is a natural complement to its role in monetary policy.

It's true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles.

The Federal Reserve has the responsibility to protect the credit rights of consumers.

The Fed's independence is critical.

I’ve always been a little nervous about the Fed. Quite frankly, I’m a little nervous about the degree of their independence.

The powers vested in the Federal Reserve Board seen to me highly dangerous especially where there is political control of the Board.

I don't have any influence over the Fed [Federal Reserve System], none at all. It's carefully isolated from any influence by the President or Congress.