Jerome Powell Quotes
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Central banking often comes across as obscure and complicated, and we try to help the public understand what we do.
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The GSEs became powerful advocates for their own bottom lines, providing substantial financial support for political candidates who supported the GSE agenda.
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No single housing finance institution should be too big to fail.
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The financial crisis and the Great Recession posed the most significant macroeconomic challenges for the United States in a half-century, leaving behind high unemployment and below-target inflation and calling for highly accommodative monetary policies.
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Liquidity problems can occur in central clearing, even if all counterparties have the financial resources to meet their obligations, if they are unable to convert those resources into cash quickly enough.
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While monetary policy can contribute to growth by supporting a durable expansion in a context of price stability, it cannot reliably affect the long-run sustainable level of the economy's growth.
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If the public understands the central bank's views on the economy and monetary policy, then households and businesses will take those views into account in making their spending and investment plans; policy will be more effective as a result.
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The revenue stream for Social Security benefits comes from payroll taxes, which are credited to the Social Security Trust Fund - accounting for the program's finances separately from the rest of the budget.
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The financial crisis involved significant failures in the functioning, regulation, and supervision of OTC derivatives markets.
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Over the longer run, advanced economy policy actions that strengthen global growth and global trade will benefit the EMEs as well.
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The only way to ensure that inflation expectations remain safely anchored near the FOMC's target is to keep inflation close to that target on a consistent basis.
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The Federal Reserve places great importance on our relations with the Bundesbank. Few such relationships have been as important, over the decades, in promoting financial stability and prosperity around the world.
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We need a national focus on increasing the sustainable growth rate of our economy.
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Higher capital requirements increase bank costs, and at least some of those costs will be passed along to bank customers and shareholders. But in the longer term, stronger prudential requirements for large banking firms will produce more sustainable credit availability and economic growth.
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Emerging market economies have long grappled with the challenges posed by large and volatile cross-border capital flows.
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More regulation is not the best answer to every problem.
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The Federal Reserve seeks to support MDIs in a number of ways, including our Partnership for Progress, our program for outreach and technical assistance to MDIs.
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Mobile devices, high-speed data communication, and online commerce are creating expectations that convenient, secure, real-time payment and banking capabilities should be available whenever and wherever they are needed.
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There is certainly a role for regulation, but regulation should always take into account the impact that it has on markets, a balance that must be constantly weighed.
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We live in a world defined by the rapid pace of technological change.
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A digital currency issued by a central bank would be a global target for cyber attacks, cyber counterfeiting, and cyber theft.
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My own experience is that the best outcomes are reached when opposing viewpoints are clearly and strongly presented before decisions are made.
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Community banks are a crucial part of our economy and the fabric of our society.
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The expectation of gradual policy normalization should reduce the likelihood of outsized movements in interest rates.