Trent Lott Quotes

There is a European Central Bank, of course, established and it has the structure similar to the Federal Reserve system, not precisely the same but similar.

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.

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

Interest rates are used to achieve overall economic stability.

The Fed's independence is critical.

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

The job of the Central Bank is to worry.

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

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.

Our focus is on ensuring America has the strongest economy in the world for the next 100 years and to do that, we need to get to the role of the Federal Reserve and we need to get it right.

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

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

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.

I don’t think that the Fed [Federal Reserve] ever can be or should be a prisoner of the markets.

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.

What is important for a central banker is that you have to convey that you know what you are doing.

I don't want Congress setting monetary policy.

The Federal Reserve is the overlord of the money supply. If these two are not steering in the same direction, they can either neutralize each other or have the economy lurching in all directions. This is not a rational system for setting economic policy. It has given us trouble in the past, as the text will establish, and will inevitably in the future.

In the United States we have, in effect, two governments ... We have the duly constituted Government ... Then we have an independent, uncontrolled and uncoordinated government in the Federal Reserve System, operating the money powers which are reserved to Congress by the Constitution.

The case against a fully independent central bank is strong indeed.

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

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

The central bank needs to be able to make policy without short term political concerns.

It's a technical, fairly difficult job that has no particular political connotations, so I doubt there are any big campaign contributors dying to be on the Fed. And remember, it doesn't pay very well, certainly by Republican standards.

Who controls the issuance of money controls the government!