Jeremy Grantham Quotes

The central focus of what we are doing at the Fed is to keep inflation from accelerating - and preferably decelerating.

The president has very little effect on the economy. If you want to put blame or credit, the main person who influences the business cycle is the head of the Federal Reserve Bank.

The Federal Open Market Committee (FOMC) is committed to policies that promote maximum employment and price stability, consistent with our mandate from Congress.

The Fed has the ability to put money out, it's got the ability to take money back in, and if they don't do that, we will have hyperinflation worse than we had in 1980 and 1981.

The Fed is the biggest enemy of this economy. In fact, Ben Bernanke, as far as I'm concerned, he's public enemy No. 1. We're never going to have a recovery while this guy's in charge.

The Federal Reserve's job is to take away the punch bowl just when the party gets going.

For the first time the committee [Federal Reserve] was using communication — mere words — as its primary monetary policy tool.

The government will always tell you that it wants low inflation. The real issue is the horizon over which to bring inflation down.

I believe that the history of Fed policymaking is that, you know, there are times when we need to raise rates.

The Congress has tasked the Federal Reserve with achieving stable prices and maximum employment - the dual mandate.

The Federal Reserve is committed to fulfilling our statutory mandate of stable prices and maximum employment.

If Congress wanted to intervene with the Federal Reserve, well, we created the Federal Reserve. We could uncreate it. But would you want Congress regulating the money supply? We'd have drowned in inflation, or gone bankrupt, decades ago.

The amount of currency in circulation is not changing. The money supply is not changing in any significant way.

The reason inflation was brought down to manageable levels, by the time of Ronald Reagan's re-election, was directly attributable to Jimmy Carter's very courageous act, hiring a Federal Reserve chair, with the charge to induce a recession. That recession was probably the reason he didn't win a second term.

The Federal Reserve cannot solve all the economy's problems on its own.

If I am confirmed, I am confident that my colleagues on the Federal Open Market Committee and I will maintain the focus on long-term price stability as monetary policy's greatest contribution to general economic prosperity and maximum employment.

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

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.

There is always the potential for a central bank to engage in discretionary monetary policy and to break the one-to-one link between changes in foreign reserves and changes in the money supply.

Monetary policy and fiscal policy are inseparable.

Our Federal Reserve has unlimited money raising powers.

Once an economy reaches a certain level of acceleration... the Fed is no longer with you... The Fed, instead of trying to get the economy moving, reverts to acting like the central bankers they are and starts worrying about inflation and things getting too hot.

I will be the first to say that it is always difficult to get monetary policy just right. But the Fed's analytical prowess is top-notch, and our forecasting record is second to none.

The role of monetary policy is to smooth out business cycles by promoting steady inflation and healthy labor markets, but modern central bankers have taken an activist turn.

Monetary policy should remain data dependent, be well communicated, and ensure that inflation expectations remain anchored.