Urjit Patel Quotes

The Fed is totally open.

Monetary policy is a blunt tool which certainly affects the distribution of income and wealth, although whether the net effect is to increase or reduce inequality is not clear.

There are limits to monetary policy.

Monetary policy is not a panacea.

Monetary policy and fiscal policy are inseparable.

Of course I welcome all the normalization of monetary policy. I think monetary policy should be normal.

There is no risk-free path for monetary policy.

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

As a former economy minister, I can't not think about economic growth. The central bank should also think about this but through its own instruments.

A crucial responsibility of any central bank is to control inflation, the average rate of increase in the prices of a broad group of goods and services.

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.

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.

We believe that the Federal Reserve has to carry on with a progressive increase in interest rates as a consequence of the American economy.

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

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

No one single thing that we do will control inflation

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

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.

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

Printing money is merely taxation in another form.

However, in spite of the general perception that monetary policy should be conducted so as to avert deflation, a central bank cannot lower interest rates below the zero lower bound.

Monetary policy itself cannot sensibly be directed at reducing imbalances.

A good monetary policy follows inflationary expectations and not historical numbers.

The phrase 'perception is reality' is overused generally. But perception can be reality in monetary policy. The bond market doesn't act merely on what it sees. It acts on what it expects of the Fed or the government.

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