Will Rogers Quotes

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

I think the Fed is not designed to have effective tools to deal with the economy. It should settle for just controlling the money supply. And - if it insists, it can worry about inflation.

Attempting to control inflation or protect the dollar by throwing legions of people out of work and shutting down shifts in our factories and mines is a hopeless policy.

The worst failures of the Federal Reserve have come from waiting too long tp tighten monetary policy during expansions, not from loosening it too much during recessions.

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

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.

People forget how difficult it is to stop inflation or get it under control… I worry about it all the time.

You have to change people’s minds to stop inflation.

I reject the advice of those who think the only way to fight inflation is to throw millions of people out of work .... I guarantee you that I will not fight inflation with your jobs.

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

The very existence the Federal Reserve System is a safeguard against anything like a calamity growing out of money rates …. We have the power to deal with such an emergency instantly by flooding the street with money.

If by carelessness in controlling inflation and imposing controls on our general economy we are unable to meet these temporary but vital calls upon us, we will be courting real disaster.

Every economic downturn suffered by this country over the past century can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial 'boom' followed by a recession or depression when the Fed-created bubble bursts.

The economic repercussions of a stock market crash depend less on the severity of the crash itself than on the response of economic policymakers, particularly central bankers.

The Federal Reserve is playing a mind game—but with enormous real-world consequences.

Economic downturns in the United States generally occur when the Federal Reserve raises interest rates to keep inflation in check When the Fed's Open Market Committee believes that it has brought inflation under control, it can start to lower rates and reverse the downturn. But the recession that began in 2007 [The Great Recession] was unusual: since the Fed did not casuse that downturn by tightening monetary policy, it could not reverse it by lowering short term interest rates. The downturn was the result of market mispricing assets, including financial assets such as equities and mortgage-backed securities and real assets such as housing.

Whether a president can truly improve, or damage, an economy remains an open question.

U.S. economic activity continues to expand, led by solid growth in household spending. But business investment remains soft, and subdued foreign demand and the appreciation of the dollar since mid-2014 continue to restrain exports.

Like war, economics is more an art than a science.

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 unemployment could be brought down to say 2 percent at the cost of an assured steady rate of inflation of 10 percent per year, or even 20 percent, this would be a good bargain.

The job of the Central Bank is to worry.

Chairman Greenspan is, of course, a master.

I've got a chart here that shows our debt-to-GDP ratio. And while we did run deficits in the past, we now number our debt in trillions rather than in billions. And I think that represents a long-term danger, especially to the, the American dream.