Top 100 Quotes About Federal Reserve
#1. 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.
Murray Rothbard
#2. Ron Paul's crazy talk about the Federal Reserve makes more sense these days. Right now, every - all this debt issued by the United States people assume the Chinese are buying, no they don't want any more American debt. Ron Paul has a point there.
Mark Steyn
#3. The Federal Reserve the privately owned U.S. central bank definitely caused The Great Depression by contracting the amount of currency in circulation by one third from 1929 to 1933.
Milton Friedman
#4. The reason most people don't express their individuality and actually deny it, is not fear of what prime ministers think of us or the head of the federal reserve, It's what their families and their friends down at the bar are going to think of them.
David Icke
#5. The financial system has been turned over to the Federal Reserve Board. That board administers the finance system by authority of a purely profiteering group. The system is private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people's money.
Charles A. Lindbergh
#6. The Federal Reserve's job is to do the right thing, to take the long-run interest of the economy to heart, and that sometimes means being unpopular. But we have to do the right thing.
Ben Bernanke
#7. 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.
Robert C. Solomon
#8. If the federal government is an addict, then the Federal Reserve System is its enabler.
Thomas E. Woods Jr.
#9. 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.
Ben Bernanke
#10. Funnily enough, the Federal Reserve produced comics about monetary policy, and there is a good comic book guide to microeconomics and macroeconomics out there. But it is not really appropriate for younger readers; it is really aimed at economics students.
Tim Harford
#11. Paul Volcker, former chairman of the Federal Reserve (1979-87): The worst financial investment I ever made was spending so much time in government. The most satisfying personal investment I ever made was spending so much time in government, frustrating as it could be.
Anonymous
#12. The Federal Reserve is not currently forecasting a recession.
Ben Bernanke
#13. I know the Federal Reserve Bank can continue to print more and more money ... but city and state governments cannot.
Robert Kiyosaki
#14. The reason I am so negative about the Federal Reserve's policies is that they only target core inflation and argue that they can't identify bubbles, but when each bubble bursts, they flood the system with liquidity that brings about unintended consequences.
Marc Faber
#15. The Federal Reserve System is a legal private monopoly of the money supply operated for the benefit of the few under the guise of protecting and promoting the public interest.
Anonymous
#16. The Federal Reserve ranks among the most transparent central banks. We publish a summary of our balance sheet every week. Our financial statements are audited annually by an outside auditor and made public. Every security we hold is listed on the website of the Federal Reserve Bank of New York.
Janet Yellen
#17. 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.
William McChesney Martin
#18. A U.S. dollar is an IOU from the Federal Reserve Bank. It's a promissory note that doesn't actually promise anything. It's not backed by gold or silver.
P. J. O'Rourke
#19. The Federal Reserve needs to provide small businesses in America with the same low-interest loans it gave to foreign banks.
Bernie Sanders
#20. The failure of Lehman Brothers demonstrated that liquidity provision by the Federal Reserve would not be sufficient to stop the crisis; substantial fiscal resources were necessary.
Ben Bernanke
#21. The Federal Reserve bank buys government bonds without one penny ...
John C. Danforth
#22. Because financially capable consumers ultimately contribute to a stable economic and financial system as well as improve their own financial situations, it's clear that the Federal Reserve has a significant stake in financial education.
Ben Bernanke
#23. Achieving price stability is not only important in itself, it is also central to attaining the Federal Reserve's other mandate objectives of maximum sustainable employment and moderate long-term interest rates.
Ben Bernanke
#24. There is no entity in the world that controls our lives more than the Federal Reserve System
Harry Reid
#25. Even when [Federal Reserve Chairman Ben] Bernanke said the recession was over ... you think that would have been a bigger boom somewhere, but it seems we just take everything in stride.
Bill Maher
#26. The Federal Reserve has the capacity to operate in domestic money markets to maintain interest rates at a level consistent with our economic goals
Ben Bernanke
#27. 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
Barry M. Goldwater
#28. The Federal Reserve has never suffered any losses in the course of its normal lending to banks and, now, to primary dealers.
Ben Bernanke
#29. Before passage of this [Federal Reserve] Act, the New York Bankers could only dominate the reserves of New York. Now, we are able to dominate the bank reserves of the entire country.
Nelson W. Aldrich
#30. When the economic well-being of their nation demanded a strong and creative response, my colleagues at the Federal Reserve ... mustered the moral courage to do what was necessary.
Ben Bernanke
#31. We own the Federal Reserve. There is this misconception that the Federal Reserve is some private entity. But if I might give an analogy here, we - U.S. taxpayers - own all the stock in the Federal Reserve.
Gary Johnson
#32. There is two things that can disrupt business in this country. One is War, and the other is a meeting of the Federal Reserve Bank.
Will Rogers
#33. History has recorded nothing so dramatic in design, nor so skillfully manipulated, as this attempt to create the National Reserve Association, or the Federal Reserve.
Charles Lindbergh
#34. The Federal Reserve System is not Federal; it has no reserves; and it is not a system at all, but rather, a criminal syndicate.
Eustace Mullins
#35. Von Pein's family was a little known, but highly influential entity within American banking circles. Banking Royalty, some called it. His grandfather had been one of the chief orchestrators of the Federal Reserve Act of 1913, which effectively took ownership of the bank from the American people.
James Morcan
#36. That is the one thing in my public career that I regret
my work to secure the enactment of the Federal Reserve Law.
William Jennings Bryan
#37. 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.
Kevin Brady
#38. When it appears as though the governors of the Federal Reserve believe that the end of the rate increases is near, that's very good news for investors. A lack of ambiguity from the Federal Reserve is always a little bit of a shocker.
Hugh S. Johnson
#39. There's no hidden secrets going on in the Federal Reserve
Herman Cain
#40. [On reporters trying to cajole a smile from her husband, Alan Greenspan:] For a Federal Reserve chairman, that was a smile.
Andrea Mitchell
#41. Quantitative easing is just the latest chapter in the Federal Reserve's hundred-year history of failure. ( ... ) The American people have suffered long enough under a monetary policy controlled by an unaccountable, secretive central bank. It is time to finally audit - and then end - the Fed.
Ron Paul
#42. There have been times when the Federal Reserve has restricted the money supply and raised interest rates to gain an end, which had much better been left to another Government agency or the Congress to attain. The country could have had lower interest rates without sacrificing anything else.
Wright Patman
#43. My preference is for the Federal Reserve to be the systemic risk regulator, because the responsibility for identifying and limiting potential problems is a natural complement to its role in monetary policy.
Henry Paulson
#44. The job of the Federal Reserve is "to know when to remove the punch bowl at the party." Under Alan Greenspan's leadership its motto became "let's all get drunk and see what happens." It is now the morning after and the world will be dealing with Greenspan's hangover for the next several decades.
Said Elias Dawlabani
#45. I think it would be interesting to know about the Federal Reserve. I think we should audit the Federal Reserve. It's taxpayers money that is being used there
Harry Reid
#46. The Federal Reserve will not monetize the debt.
Ben Bernanke
#47. If Congress wanted to intervene with the Federal Reserve, well, we created the Federal Reserve. We could uncreate it. But would you want Congress regulating the money supply? We'd have drowned in inflation, or gone bankrupt, decades ago.
Jim Cooper
#48. Fletcher Von Pein was one of the twelve founders of the Omega Agency. He was also a powerful banker and a majority shareholder in the US Federal Reserve which, despite its misleading name, had zero government ownership and was actually a private corporation owned by the global elite.
James Morcan
#49. The Federal Reserve, like other central banks, wields powerful tools; democratic accountability requires that the public be able to see how and for what purposes those tools are being used.
Ben Bernanke
#50. 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
Janet Yellen
#51. We faced a crisis caused by the Federal Reserve, the corporate tax system, Fannie Mae and Freddie Mac, and the Community Reinvestment Act. But the response of many people in Washington was to blame it on capitalism.
David Boaz
#52. The Federal Reserve has the responsibility to protect the credit rights of consumers.
Bernie Sanders
#53. 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.
Dick Cheney
#54. No major institution in the US has so poor a record of performance over so long a period as the Federal Reserve, yet so high a public reputation.
Milton Friedman
#55. If Federal Reserve loans are subsidies, it doesn't show up in the federal budget.
Elizabeth Warren
#56. Last year, Congress passed a law that directs the Federal Reserve to set limits on debit card swipe fees that are reasonable and proportional to the cost of processing those transactions. Like most Americans, I had no idea that swipe fees charged to American businesses are the highest in the world.
Peter Welch
#57. It's true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles.
Ben Bernanke
#58. The president has very little effect on the economy. If you want to put blame or credit, the main person who influences the business cycle is the head of the Federal Reserve Bank.
Robert Fogel
#59. In 2005, attorneys general of 35 states urged the Federal Reserve to end the unsigned check system.
Charles Duhigg
#60. We believe that the Federal Reserve has to carry on with a progressive increase in interest rates as a consequence of the American economy.
Rodrigo Rato
#61. The Federal Reserve was created after a 1913 meeting in Jekyll Island, Ga that was so secret it wasn't discovered until Orafoura began cleaning out his underwear drawer in 1982.
Jarod Kintz
#62. Citigroup, Bank of America, and JP Morgan Chase should not be permitted to charge consumers 25- to 30-percent interest on their credit cards, especially while these banks received over $4 trillion in loans from the Federal Reserve.
Bernie Sanders
#63. Actions have consequences. The consequences of wealth confiscation by the Federal-Reserve mechanism are now upon us.
Anonymous
#65. There are congressmen in our congregation, judges, federal reserve governors. And there are also people who are homeless and some who are mentally ill. To be able to talk to each of those people is something that I've had to learn how to do over the years.
James Green Somerville
#66. In 2008, Goldman Sachs only paid 1.1 percent of its income in taxes even though it earned a profit of $2.3 billion and received an almost $800 billion from the Federal Reserve and U.S. Treasury Department.
Bernie Sanders
#67. Remember, Alan Greenspan was a member of Ayn Rand's collective. To understand this is to understand why we are doomed with the Federal Reserve.
Peter Fonda
#68. You can't fall back on the private sector and say, 'You take care of the nation's banking system.' That's a fundamental function of the government, the Federal Reserve, the Treasury and the FDIC, etc. All of those agencies have a major role to play there.
Dick Cheney
#69. Spending time at the Federal Reserve was a good learning opportunity for me. It helped me to understand economic philosophies and polices that I had not previously known about.
Herman Cain
#70. The dollar represents a one dollar debt to the Federal Reserve System. The Federal Reserve Banks create money out of thin air to buy Government Bonds from the U.S. Treasury ... and has created out of nothing a ... debt which the American people are obliged to pay with interest.
Wright Patman
#71. 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
Paul Krugman
#72. The Federal Reserve Act requires the Federal Reserve to report annually on its operations and to publish its balance sheet weekly.
Ben Bernanke
#73. The Federal Reserve is no more federal than Federal Express,
Michael Ruppert
#74. Bad as "independence" is, the main fault of the Federal Reserve System - an admirable system if conducted in the public interest - is that too much power and control rests in the hands of people whose private interests are directly affected by the Federal Reserves' actions.
Wright Patman
#75. Prices are going up. Unemployment continues to go up. And we have not had the necessary correction for the financial bubble created by our Federal Reserve system.
Ron Paul
#76. 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.
Wright Patman
#77. In the past, Federal Reserve chairmen have not generally gone directly to the public.
Ben Bernanke
#78. I go where the revolution is, and the revolution is Ron Paul. Ron Paul is a champion of the Constitution. He's about getting rid of the Federal Reserve and shrinking federal government.
Christine Ebersole
#79. There's nothing the people love more than a Federal Reserve joke.
Adam McKay
#80. Market forces will one day crush the Federal Reserve. One day, the market forces will reverse.
Marc Faber
#81. I don't think the Federal Reserve has any role in how high rates are right now. I don't understand why everyone is paying attention to this tapering. The Fed is using one kind of bond to buy another kind of bond. What's the big deal, and why is anyone taking the Fed seriously?
Eugene Fama
#82. Every Congressman, every Senator knows precisely what causes inflation ... but can't, [won't] support the drastic reforms to stop it [repeal of the Federal Reserve Act] because it could cost him his job.
Robert A. Heinlein
#83. Lending dollars to the U.S. government is essentially riskless because the U.S. government can always pay such debts. If necessary, the Federal Reserve can print dollars to pay the debt.
Anat Admati
#84. 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.
Herman Cain
#85. 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.
Robert Zoellick
#86. The myth is that if housing prices go up, Americans will be richer. What banks - and behind them, the Federal Reserve - really want is for new buyers to be able to borrow enough money to buy the houses from mortgage defaulters, and thus save the banks from suffering from more mortgage defaults.
Michael Hudson
#87. Of all the weapons in the Federal Reserve arsenal, words were the the most unpredictable in their consequences.
John Kenneth Galbraith
#88. The investment banks should either choose to be regulated as banks or should arrange to conduct their affairs to not require the stop-gap support of the Federal Reserve.
Kenneth C. Griffin
#89. The truth is the Federal Reserve Board has usurped the Government of the United States. It controls everything here and it controls all our foreign relations. It makes and breaks government at will ...
Louis Thomas McFadden
#90. The Federal Reserve cannot solve all the economy's problems on its own.
Ben Bernanke
#91. Ever since the Federal reserve was born, (in 1913) we have been living under a lie.
Michael Maloney
#92. Few governmental institutions are more misunderstood and feared out of ignorance than the Federal Reserve Board.
David Baldacci
#93. The Federal Reserve can only buy Treasuries and agencies, and moreover quantitative easing typically involves buying longer-term Treasuries and agencies in terms of bills, for example.
Ben Bernanke
#94. The Federal Reserve is one of the most corrupt institutions the world has ever seen. There is not a man within the sound of my voice who does not know that this nation is run by the international bankers.
Louis Thomas McFadden
#95. The Obama administration's plan is to have the Federal Reserve regulate banks that might pose a 'systemic risk' if they were to fail.
Thomas Frank
#96. If the Federal Reserve pursues a strong dollar at home while the dollar becomes more competitive in global markets, we can achieve both price stability and a more balanced path of economic growth.
Martin Feldstein
#97. All the Federal Reserve can do is make loans against collateral.
Ben Bernanke
#98. They should let my son be Federal Reserve chairman. At least he'll play with his toys and not ruin the economy.
Peter D. Schiff
#99. I cannot morally blame all Americans for allowing, for instance, the birth of the Federal Reserve System and the money destruction that has followed. They are simply ignorant about it and don't know what happened or what is happening. They think that prices go up rather than that dollars go down.
Robert Prechter
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