Dick Cheney Quotes

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.

The regional Federal Reserve banks are not government agencies. ...but are independent, privately owned and locally controlled corporations

When I did my research on this topic, I came to the startling conclusion that the Federal Reserve System does not need to be audited - it needs to be abolished.

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.

I was Chairman of the Federal Reserve Bank of Kansas City. As you know, there are twelve banks and they have their citizens board, and I got elected to the Fed Chairmanship for the Federal Reserve Kansas City Bank back in the mid-'90s. It might have been 1995-'96.

The Federal Reserve Board is indefensible in theory and indispensable in practice.

This is very intriguing to think we should audit the Fed, but I discovered that probably if they audited the Fed, it would get a clean bill because it's undoubtedly doing exactly what it's supposed to do according to the law.

The bold effort the present (central) bank had made to control the government ... are but premonitions of the fate that await the American people should they be deluded into a perpetuation of this institution or the establishment of another like it.

There is a European Central Bank, of course, established and it has the structure similar to the Federal Reserve system, not precisely the same but similar.

The Federal Reserve Act requires the Federal Reserve to report annually on its operations and to publish its balance sheet weekly.

The Federal Reserve has always recognized the importance of allowing markets to work, and government oversight of financial firms will never be fully effective without the aid of strong market discipline.

The Fed's policy choices can always be debated, but the quality and commitment of the Federal Reserve as a public institution is second to none, and I am proud to lead it.

The Fed is the major U.S. firefighter. It's not the Treasury. It's not the Congress. We certainly saw that vividly in 2008.

All the Federal Reserve can do is make loans against collateral.

The Congress has had an uneasy relationship with banks and bankers since Alexander Hamilton. It took the United States until 1913 to set up a central bank. The Federal Reserve earned its hard-won independence over years of effort.

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.

The connection which formerly existed between the Government and banks was in reality injurious to both, as well as to the general interests of the community at large.

There's no other job in public life that is like chairman of the Fed.

Fostering transparency and accountability at the Federal Reserve was one of my principal objectives when I became Chairman in February 2006.

The powers vested in the Federal Reserve Board seen to me highly dangerous especially where there is political control of the Board.

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.

Some people think the Federal Reserve Banks are the United States government's institutions. They are not government institutions. They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign swindlers.

Most Americans have no real understanding of the operation of the international money lenders. The accounts of the Federal Reserve System have never been audited. It operates outside the control of Congress and manipulates the credit of the United States

Everything we hope to do, depends on an expanding economic pie. And only a vibrant, competitive, thriving private sector can create that. Government is a necessary partner, but it is the junior partner. Only the private sector can produce the revenues for the social programs that we Democrats care so much about. The financing of those programs through ever more public debt violates our generation responsibility.

… we conclude that the [Federal] Reserve Banks are not federal ...but are independent privately owned and locally controlled corporations...without day to day direction from the federal government