Top 100 The Fed Quotes
#1. Two-thirds of the directors at the New York Fed are hand-picked by the same bankers that the Fed is in charge of regulating.
Bernie Sanders
#2. The phrase 'perception is reality' is overused generally. But perception can be reality in monetary policy. The bond market doesn't act merely on what it sees. It acts on what it expects of the Fed or the government.
Amity Shlaes
#3. The banks have accounts with the Fed, much the same way that you have an account in a commercial bank.
Ben Bernanke
#4. We can't count on the Fed to inject this level of liquidity that we saw last year.
Robert Pozen
#5. Would we as a nation be better off dealing with the truth rather than believing fantasies that prop up the Status Quo and the Fed's dearly beloved measure of the economy, the stock market? How often does accepting illusion help us navigate real life? Short answer: never.
Charles Hugh Smith
#7. The failure to endow Treasury and the Fed with the authority to deal with the insolvency of a nonbank financial institution was the single most important policy failure of the crisis.
Barry Eichengreen
#8. 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.
Peter Schiff
#9. By focusing only on jobs and inflation - and, in effect, only on the former - the Fed behaved myopically, indeed politically.
Raghuram G. Rajan
#10. This is what we've been waiting for, this is the cyberchryst moment. This is when the activists that have been pushing against the FED are going to win.
Max Keiser
#11. If the Fed ceases hiking, against the backdrop of still rising commodity prices, then the Australian dollar will have few reasons for resisting any topside advances.
Craig Ferguson
#12. The Fed's ability to raise and lower short-term interest rates is its primary control over the economy.
Alex Berenson
#13. There's no other job in public life that is like chairman of the Fed.
Alan Greenspan
#14. The bond market is debating with itself what the intent of the Fed is. I don't think the Fed has a multi-step process. They are taking it step by step.
Paul McCulley
#15. Well, we're just now seeing the reductions in mortgage rates. The mortgage rates are based on the ten-year rate and the Fed controls the overnight or the shorter rates.
Franklin Raines
#16. Until the Fed lets us have a real recession, as painful as that may be, we are never gonna have a recovery.
Ziad K. Abdelnour
#18. The Fed targets inflation. Everything else is determined by the economic forces that accompany its 2-percent inflation target.
Robert T. McGee
#19. And turns out, it's not Republicans throwing granny off a cliff ... It's the Fed!?
Neil Cavuto
#21. I don't want to see the dollar strong because the rest of the world is crumbling. I would like to see the dollar strong because the Fed has said it wants it to be strong in the future.
David Malpass
#22. But clearly an economy that's growing and expanding like this one - and it certainly is doing that with high GDP output, employment numbers strong, capacity utilization strong - that's an environment in which the Fed needs to continually be alert to early signs of inflation.
John W. Snow
#23. When the market falls again this time, the Fed will again ramp up its money-printing program. This time I feel a good candidate for the next bubble will be a commodity bubble. This could be the fuel for the fire for a new gold bubble.
David Skarica
#24. Double-digit inflation is a terrible thing - and it got up to 14 or 15 percent on a monthly basis for a while, shortly after I became chairman of the Fed.
Paul A. Volcker
#25. 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
#26. Ironically, the rise of the Tea Party increased the interventions of the Fed that the movement denounced.
Yanis Varoufakis
#27. The central focus of what we are doing at the Fed is to keep inflation from accelerating - and preferably decelerating.
Alan Greenspan
#28. The Fed has the ability to put money out, it's got the ability to take money back in, and if they don't do that, we will have hyperinflation worse than we had in 1980 and 1981.
Chuck Grassley
#29. Janet Yellen at the FED is equivalent to having a biology schoolteacher who has never seen blood perform brain surgery.
Nassim Nicholas Taleb
#30. Every time the Fed implements 'quantitative easing,' a.k.a. printing more money, two things go up: taxes and inflation. When taxes and inflation go up, more jobs are lost.
Robert Kiyosaki
#31. It is understandable that the Fed injects cash to avoid the collapse of the stock market, but basically it is bad policy for monetary authorities to intervene to save speculators from bankruptcy. This is not their role.
Maurice Allais
#32. The fallacy of monetary policy in the U.S. is to believe this money will go to the man on the street. It won't. It goes to the Mayfair economy of the well-to-do people and boosts asset prices of Warhols ... Very happy. Very good for the Fed. Congratulations, Mr. Bernanke.
Marc Faber
#33. 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.
Roger Altman
#34. The Fed's policies have been an unqualified success for financiers and an abject failure for the bottom 99.5% who have to work for a living.
Ziad K. Abdelnour
#35. 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.
Alice Rivlin
#36. Well, I think as long as people are talking about stimulus, I think the Fed will be thinking about cutting rates because monetary policy is the better way to go because you can turn it on and turn it off.
Franklin Raines
#37. Mr. Chairman, when the Fed was passed, the people of these United States did not perceive that a world system was being set up here ... and that this country was to supply the financial power to an international superstate.
Louis Thomas McFadden
#38. The Fed's low-interest policy not only encourages spending and borrowing, it discourages the one thing that best helps people raise themselves into higher economic classes - saving.
Mark Thornton
#39. 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.
Bernie Sanders
#40. 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
#41. 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
#42. This bill, the Sound Dollar Act, is all about looking forward about the role the Fed should play.
Kevin Brady
#43. From a broader money view perspective, however, September 2008 was the moment when the Fed moved from lender of last resort to dealer of last resort, in effect taking the collapsing wholesale money market onto its own balance sheet. But in the heat of the moment, no one noticed.
Perry G. Mehrling
#44. The Fed needs an approach that consolidates the gains of the Greenspan years and ensures that those successful policies will continue - even if future Fed chairmen are less skillful or less committed to price stability than Mr. Greenspan has been.
Ben Bernanke
#45. At $4 trillion, and roughly only $55 billion in equity, the Fed is leveraged about 77-to-1. They define the word leverage
Ziad K. Abdelnour
#46. It has been said that the Fed's job is to take the punch bowl away just as the party gets going, raising interest rates when the economy is growing too fast and inflation threatens.
Alex Berenson
#47. And let the Fed sell bonds to bring bank reserves back down to required reserve levels, so we have restraint on bank lending and bank issuances of liability.
Arthur Laffer
#48. The confidence of the entire global financial system rests on the U.S. dollar. Confidence in the dollar rests on the solvency of the Fed's balance sheet. And that solvency rests on a thin sliver of . . . gold.
James Rickards
#49. Central banking has become the new central planning. Under the old central planning, government attempted to manage production and the supply of goods and services. Under the new central planning, the Fed attempts to manage the financial system and the supply and allocation of credit.
Anonymous
#50. I don't think anyone can answer whether the Fed is going to have to tighten beyond neutral, ... You have to be looking at the economy going forward and that changes as additional data comes in.
Michael H. Moskow
#51. The essence of the problem is that the war against inflation is over, ... Ever since 1979 the Fed was fighting a war against inflation, and you always knew which way you wanted the inflation rate to go over the long run
down.
Paul McCulley
#52. Ever since its founding in 1913, the Fed has described itself as an "independent" agency operated by selfless public servants striving to "fine-tune" the economy through monetary policy. In reality, however, a non-political governmental institution is as likely as a barking cat.
Thomas DiLorenzo
#53. The dollar has lost over 95 percent of its value since the Fed was created.
Thomas E. Woods Jr.
#54. Of course I've already taken a very modest position on the monetary system, I do take the position that we should just end the Fed.
Ron Paul
#55. Z knew the fed EX-tinction package had arrived and wasn't ready to take delivery
J.R. Ward
#56. People who are complaining about the Fed are people who've been predicting runaway inflation for five and six years, and it hasn't happened.
Paul Krugman
#57. Today's market action is driven by the slower GDP growth rate. Despite oil being higher, I think the GDP kind of overruled everything and just makes the market feel better about what the Fed is going to do, or rather not do.
L'Wren Scott
#58. When the Fed raises or lowers interest rates, for instance, then that affects the entire economy. Contracts or expands it.
David Baldacci
#59. After several trillion dollars of stimulation by the Obama Administration and the Fed, one might think the economy would be chugging along at a pretty good clip. But, it just isn't so, and the light at the end of the tunnel is pretty dim. Just ask a small business owner.
Bob Beauprez
#60. The Senate voted 59 to 39 in favor of an amendment I offered to the Budget Resolution calling on the Fed to tell the American people who they loaned $2.2 trillion to and how much each bank received.
Bernie Sanders
#61. There's one thing that the Fed has been really good at cracking down on, and that's inflation.
Paul Krugman
#62. But where will the Fed find another bubble?
Paul Krugman
#64. Did anyone of those bullish investors ever think what would happen to the Treasury market if the Fed ever became a net seller of bonds?
Ziad K. Abdelnour
#65. The Fed has gone about as if the problem is a shortage of liquidity. That is not the basic problem. The basic problem for the markets is that uncertainty that the balance sheets of financial firms are credible.
-Anna J. Schwartz interviewed in the Wall Street Journal, October 18-19, 2008.
John Brian Taylor
#66. What the Fed is really trying to say is that it doesn't know what it is going to do next. And if the markets abhor anything, it is uncertainty. Expect bond and stock market volatility to increase from here until the inflation outlook solidifies.
Scott Anderson
#67. The Fed has got to become a more democratic institution that is responsive to the needs of the middle class, not just Wall Street CEOs.
Bernie Sanders
#68. The Fed can change how things look, not how things are
James Grant
#69. I think the Fed is not designed to have effective tools to deal with the economy. It should settle for just controlling the money supply. And - if it insists, it can worry about inflation.
Jeremy Grantham
#70. If the Fed had a war on abortion like its war on poverty or war on drugs, within five years men would be having abortions!
Harry Browne
#71. 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.
Ben Bernanke
#72. Obviously, I haven't succeeded in defusing the political concerns about the Fed.
Ben Bernanke
#73. The two-year note has become the Treasury market's gauge of expectations regarding when and how quickly the Fed will raise rates.
Anonymous
#74. When the Fed decides that inflation is too high, they have the tools, and they've shown historically that they have the will, to bring it down. And, it might be painful.
Paul Krugman
#75. But our idea is that the wolves should be fed and the sheep kept safe.
Leo Tolstoy
#76. I'll ne'er distrust my God for cloth and bread while lilies flourish and the raven 's fed.
Francis Quarles
#77. I'm fed up to the ears with old men dreaming up wars for young men to die in.
George S. McGovern
#78. The service in L.A. is the best. You don't get sarcastic, surly, fed-up waiters and waitresses like you do in England. They're good at their job and they're there for the customer. The only depressing thing is a lot of them have written more screenplays than me.
Ricky Gervais
#79. He that pines with hunger, is in little care how others shall be fed. The poor man is seldom studious to make his grandson rich.
Samuel Johnson
#80. People are fed up with the various camps, they want to unite.
Naftali Bennett
#81. Socrates was a philosopher. He went around pointing out errors in the way things were done. They fed him hemlock.
Gil Amelio
#82. I got to the point where I was fed up with so many people telling me how and who I was supposed to be.
Estelle
#83. If this country [America] is to survive, the best-fed-nation myth had better be recognized for what it is: propaganda designed to produce wealth not health.
Adelle Davis
#85. The man who has fed the chicken every day throughout its life at last wrings its neck instead, showing that more refined views as to the uniformity of nature would have been useful to the chicken.
Bertrand Russell
#86. By the way, only a real man can accept his feminine side."
"I don't know who fed you that line of garbage, but I can promise she's laughing at you right now.
Gena Showalter
#87. Gay hope is theirs by fancy fed,
Less pleasing when possest;
The tear forgot as soon as shed,
The sunshine of the breast.
Thomas Gray
#88. The Xanthus or Scamander is not a mere dry channel and bed of a mountain torrent, but fed by the ever-flowing springs of fame ...
and I trust that I may be allowed to associate our muddy but much abused Concord River with the most famous in history.
Henry David Thoreau
#89. Our citizens are tired of big government raising their taxes and cooking up new ways to micromanage their lives, our citizens are tired of big government killing jobs with their do-gooder policies. In short the people are Fed Up!
Rick Perry
#90. They are me, these women. They are the ones who taught me to see; I taught me to see. They, we, are the ones healing the Ginen story, fighting to destroy that cancerous trade in shiploads of African bodies that ever demands to be fed more sugar, more rum, more Nubian gold.
Nalo Hopkinson
#91. People are fed up with Labour for taking them for granted for far too long, they are fed up of too much spin, and the people of Dunfermline and West Fife have spoken for the rest of the country with their views on the Labour government.
Willie Rennie
#93. I'm so fed up with being told that I'm a bad person because I don't subscribe to the same exact narrow views [Christians] have.
Wil Wheaton
#94. His hope was cold. Poisonous. Eclipsing. And he
fed it anyway, the way someone feeds something out of habit simply because there is nothing else in their life worth growing.
Roshani Chokshi
#95. In no way am I demeaning writing or any other form of art because it's popular. What I'm saying is that anything fed into the industrial machinery to comply with rules of size and length and shelf-life has a hard time surviving as art.
Alberto Manguel
#96. We are trapped in a net of our our own self-doubt, on the programming force fed to us by parents, schools, society. In a certain light, on certain days, you can see that net. And once you can see it, you can learn to make it go away.
Chloe Thurlow
#97. On the square ... I'm not riffin' like Andy Griffith,
Just fed up, goin' head up, with competition.
Positive K
#98. The wretch who digs the mine for bread, or ploughs, that others may be fed, feels less fatigued than that decreed to him who cannot think or read.
Hannah More
#99. I was fed by the music I listened to as a kid. Hip-hop fed me psychologically, spiritually, politically. I learned from that music.
Saul Williams
#100. There was an Old Person of Bray, Who sang through the whole of the day To his ducks and his pigs, whom he fed upon figs, That valuable Person of Bray.
Edward Lear
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