Adam Smith Quotes

With interest rates artificially low, consumers reduce savings in favor of consumption, and entrepreneurs increase their rates of investment spending.

Low interest rates are a big opportunity for investment. But the issue is that this money should go to the real economy, not the financial economy.

Well, I think as long as people are talking about stimulus, I think the Fed will be thinking about cutting rates because monetary policy is the better way to go because you can turn it on and turn it off.

In a world where wealth is growing, you can get away with printing money. Doubling the debt over the next 20 years is not a problem.

Long before folks fretted the demise of 'quantitative easing,' I fretted its existence. It proved the reverse of its image, an antistimulus, and we've done okay not because of it, but despite it.

The Federal Reserve bank buys government bonds without one penny

Our wise men flattered us into the adoption of the banking system under the idea that boundless wealth would result from the adoption.

The greatest economic power might in fact remain in the hands of the Federal Reserve. Economists credit the Fed's policy of keeping interest rates at historic lows with helping to pump up the economy and bring unemployment down.

The 'boom-bust' cycle is generated by monetary intervention in the market, specifically bank credit expansion to business.

What is important is that in a capital-scarce country like India, the real interest rate needs to be positive enough to encourage healthy growth of financial savings; we get into macro difficulties when real rates on financial savings become negative for a length of time.

Banks should contribute to the real economy, make a positive contribution to economic growth.

What the president announced yesterday, is that somehow magically, if we just continue to prime the pump of taxpayer dollars, we're going to see magically an economic recovery.

And so we have to be careful with looking at additional stimulus that we don't provoke an increase in the bond rate and then offset a lot of the stimulus we've already got.

We believe that - the President believes that the economy will continue to grow, that the economy will continue to create jobs, and that we need to do everything we can to enhance that growth and enhance that job creation.

Credit is a promise to deliver money. It will produce GDP but you'll create credit... So you reach a certain point that that you can't do that anymore... There are choices. And how do we best support, apportion the money? How much is going to be transferred?

Well, you know, we've got a lot of stimulus in the economy already from the tax cut, from the lowered interest rates, and also from the refinancing of mortgages.

If the Federal Reserve pursues a strong dollar at home while the dollar becomes more competitive in global markets, we can achieve both price stability and a more balanced path of economic growth.

Popular as Keynesian fiscal policy may be, many economists are skeptical that it works. They argue that fine-tuning the economy is a virtually impossible task, and that fiscal-stimulus programs are usually too small, and arrive too late, to make a difference.

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

In the 1960s, and stretching back to the 1930s, it was felt by many economists that easy money is a reliable way to increase employment.

Deficits do not in themselves produce inflation, nor does a balanced budget assure a stable price level.

When the economic well-being of their nation demanded a strong and creative response, my colleagues at the Federal Reserve... mustered the moral courage to do what was necessary.

Well, I think the global economy is in the position for continuing good growth with inflation well in check.

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.

As America's head coach, President Obama needs to make some big and smart adjustments to jump-start economic growth and business investment, stimulate job creation, and get wages up for ordinary Americans.