Quotes about Federal Reserve Chairman

Bert Lance

Tell the President [Jimmy Carter] not to appoint [Paul A.] Volcker [as Federal Reserve Chairman.] If he appoints Volcker, he will be mortgaging his re-election to the Federal Reserve.

Volcker was politically very independent and the President was facing re-election. Carter appointed him. The Federal Reserve took actions that were unpopular with most voters. Carter couldn't control the Federal Reserve. He lost the election.

John McCain

And by the way, I would not only reappoint Greenspan; if Greenspan would happen to die, God forbid, I would do like they did in the movie 'Weekend at Bernie's.' I would prop him up and put a pair of dark glasses on him.

Paul A. Volcker

If you appoint me, I will raise interest rates and choke off the inflation, and that will have bad political repercussions for you.

The inflation was very high at the time. Employment was good however. Volker warned that his measures to curtail inflation would curtail growth and jobs. Carter accepted the risk and appointed Volker. Just as he said, Volker choked the economy breaking the inflation, but sent Carter into a reelection campaign with high unemployment and little growth. Carter lost.

Jack Welch

I think the move by Mr. Greenspan was welcomed by everyone here.

David Stockman

Bernanke has cultivated this idea that he is a brilliant scholar of The Great Depression, but that’s not true at all.

Andrea Mitchell

[On reporters trying to cajole a smile from her husband, Alan Greenspan:] For a Federal Reserve chairman, that was a smile.

Paul Samuelson

But the trouble is that he [Alan Greenspan] had been an Ayn Rander. You can take the boy out of the cult but you can't take the cult out of the boy.

Federal Reserve Chairman Quotes