Jerome Powell Quotes

As presidents from Ronald Reagan to Barack Obama have recognized, the real question is whether regulations, whether new or old, are justified. That requires a careful analysis of their costs and their benefits.

More than 50% of significant new regulations that impact on business in the UK now emanate from the EU.

There is no evidence that more regulation makes things better. The most highly regulated industry in America is commercial banking, and that didn't save those institutions from making terrible decisions.

Road testing the effects of regulation on European business must become second nature to the European Union.

Is regulation per se bad? Is better regulation bad? I think better regulation is good for the business community, and I think that's something we should get together on.

When an industry has a blanket exemption and someone suggests the most modest regulation, they see it changing the universe in which they do business.

Repealing rules therefore requires federal agencies to explain why the factual and scientific bases for the predicted benefits of their rules were wrong or no longer adequate to justify those rules.

In recent years, Republicans have argued that Congress is a more responsible policymaker than the executive branch. But when it comes to regulation, Congress is often much worse, and for just one reason: Executive agencies almost always focus on both costs and benefits, and Congress usually doesn't.

I frankly think we in the financial service world believe we need appropriate kinds of regulations. No question about that. But when something like Dodd-Frank has been created, sort of in the mystery of night, it is a huge document. It's vast. It weighs about 10 pounds when I carry it around.

A focus on regulatory overreach, things that the benefit doesn't outweigh the cost, is probably the single greatest opportunity we have for having a positive impact on job creation.

In my view, it is unreasonable for EPA to exclude considerations of costs in determining whether it is 'appropriate' to impose significant new regulations on electric utilities.

Regulation has gone astray. . . . Either because they have become captives of regulated industries or captains of outmoded administrative agencies, regulators all too often encourage or approve unreasonably high prices, inadequate service, and anticompetitive behavior. The cost of this regulation is always passed on to the consumer. And that cost is astronomical.

We have got so many regulatory laws already that in general I feel that we would be just as well off if we didn't have any more.

Overregulation corrupts citizens and weakens the rule of law.

Banks are concerned the central bank is imposing too many regulations. If the trend continues, we'll swing to heavy regulation. We need to have balanced regulation to encourage the economy.

We're one of the most highly regulated industries, and we have to pay attention to what government is doing.

The largest number of jobs likely to be created by the JOBS Act will be for lawyers needed to clean up the mess that it will create.

I'm always a little cautious, there's a few amendments that are out there that I think could do some damage, so I've been more concerned about over regulating, going too far.

There is a very real danger that financial regulation will become a wolf in sheep's clothing.

You don't make a system more effective by increasing the number of regulators.

The constant need for special waivers is symptomatic of poorly written public policy. It's a signal that the cost of compliance is unreasonably high; the benefits are hard to measure; and either legislators or regulators have failed to do their homework.

We cannot afford the EPA's continued expansion of red tape that is slowing economic growth and threatening to entangle millions of small businesses.

Here in the UK the government has decided to accept the recommendations of the Better Regulation Task Force to measure and make targeted reductions in the administrative costs - the red tape costs - that regulations impose on business.

Congress, the press, and the bureaucracy too often focus on how much money or effort is spent, rather than whether the money or effort actually achieves the announced goal.

Legislation must be passed which undoes the damage caused by excessive de-regulation. That means reinstalling the regulatory firewalls that were ripped down in 1999.