Austan Goolsbee Quotes

Mitt Romney, you can criticize him for a lot of things, and that's fair, but he knows how the economy works.

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.

Paper money is made of cotton, and I'm long cotton, by the way. One reason I'm long cotton is because Dr. Bernanke is out there running the printing presses as fast as he can.

We have to remember there is not a big printing press in Washington that continually prints money over and over.

The biggest issue I have with the CFPB is that I don't believe that they should be funded out of profits from the Federal Reserve.

The States is run by the Federal Reserve, an institution that answers only to itself and to a few large banks. It's modelled on the Bank of England. Ben Franklin said that one of the main reasons America revolted was to get away from the Bank of England, the mother of all central banks - the most pernicious and insidious of all.

The Congress has tasked the Federal Reserve with achieving stable prices and maximum employment - the dual mandate.

I'm not the interview-giving kind.

The Federal Reserve is committed to fulfilling our statutory mandate of stable prices and maximum employment.

Fed role - legal system, currency & defense, within its means.

Hyperinflation is not going to happen in this country, will never happen... The Fed putting so much money into the system is not going to create the risk of hyperinflation in the future. We have a strong independent Federal Reserve with a very strong mandate from the Congress, and they will do what's necessary to keep inflation low and stable over time.

There's no hidden secrets going on in the Federal Reserve...

The Fed is the greatest hedge fund in history.

Unlike the days of the gold standard, it is impossible for the Federal Reserve to go bankrupt; it holds the legal monopoly of counterfeiting (of creating money out of thin air) in the entire country.

We do not interpret bitcoin's popularity as having a relationship with the public's view of the Federal Reserve's conduct of monetary policy

The Federal Reserve is not currently forecasting a recession.

A snarky but accurate description of monetary policy over the past five years is that the Federal Reserve successfully replaced the technology bubble with a housing bubble

To the best of my knowledge, there has never been a monetary union, putting out a fiat currency, composed of independent states.

The Federal Reserve... is in the position of the chaperone who has ordered the punch bowl removed just when the party was really warming up.

Nothing good can come from the Federal Reserve. It is the biggest taxer of them all. Diluting the value of the dollar by increasing its supply is a vicious, sinister tax on the poor and middle class.

There is no entity in the world that controls our lives more than the Federal Reserve System

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.

We can't count on the Fed to inject this level of liquidity that we saw last year.

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.

At the base of the Fed pyramid, and therefore of the bank system's creation of "money" in the sense of deposits, is the Fed's power to print legal tender money. But the Fed tries its best not to print cash but rather to "print" or create demand deposits, checking deposits, out of thin air, since its demand deposits constitute the reserves on top of which the commercial banks can pyramid a multiple creation of bank deposits, or "checkbook money."