Alan Greenspan Quotes

The job of the Central Bank is to worry.

The main long-run contribution monetary policy can make is to provide a stable macroeconomic and financial environment.

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.

The Fed needs an approach that consolidates the gains of the Greenspan years and ensures that those successful policies will continue - even if future Fed chairmen are less skillful or less committed to price stability than Mr. Greenspan has been.

The Federal Reserve, the Treasury, all the regulator agencies - if there's a problem of the financial mechanism in society, the only one to fix it is government. They've got a legitimate role.

Of course, looking tough on inflation is part of any central banker's job description: if investors believe that inflation is going to get out of control, you end up with higher interest rates and capital flight, and a vicious circle quickly ensues.

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.

Monetary stability is a cornerstone of the social contract.

It's important for the Fed, hard as it is, to attempt to detect asset bubbles while they're forming.

The Federal Reserve places great importance on our relations with the Bundesbank. Few such relationships have been as important, over the decades, in promoting financial stability and prosperity around the world.

I believe strongly that we need a finance industry that is good for the economy, and I don't think anybody would argue that during the eight years leading up to the Great Recession, a lot of bets were made [and] risks taken that weren't good for the economy.

Japan's experience suggests the importance of assessing the sustainability of price stability over a fairly long period, which many central banks have emphasized in recent years.

Developments in financial markets can have broad economic effects felt by many outside the markets.

The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.

Our mission, as set forth by the Congress is a critical one: to preserve price stability, to foster maximum sustainable growth in output and employment, and to promote a stable and efficient financial system that serves all Americans well and fairly.

Low and stable inflation in many countries is an important accomplishment that will continue to bring significant benefits.

I have spoken about deficits, and I think deficits are important because they address broad economic and financial stability. We need to talk about that.

The details of what the Fed did were kept secret until a provision in the Dodd-Frank Act that I sponsored required the Government Accountability Office to audit the Fed's lending programs during the financial crisis.

We believe that it is very important that we have hopefully averted what would have been the most substantial headwind of all, which is a default for the first time in our history, and that that will contribute to a more positive environment that we hope will allow for greater growth and job creation.

If a bank's too big so that it can't fail without hurting our economy, well then, it's too big.

Interest rates are used to achieve overall economic stability.

People rightly want our political leaders - on all sides - to concentrate on minimising the damage to jobs, living standards and our savings from the banking crisis.

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.

Governments should ensure the adequate capitalization of domestic banks, so that these banks won’t have to be bailed out by the IMF [International Monetary Fund].

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.