Jerome Powell Quotes

“A digital currency issued by a central bank would be a global target for cyber attacks, cyber counterfeiting, and cyber theft.”

“After the last financial crisis, the banks more than doubled their capital and liquidity and they’re far more aware and better at managing the risks they’re taking.”

“All economic forecasts are subject to considerable uncertainty. There is always a wide range of plausible outcomes for important economic variables, including the federal funds rate.”

“Although I have never worked in a community bank, I have been a customer, and I know from personal experience the special skills that these institutions bring to their customers.”

“As with so many sectors of the economy, technology is transforming the retail banking sector.”

“Bailouts may have been more tolerable in the early 1990s when they were rare and their use for a failing bank was uncertain. That is no longer the case.”

“Central banking often comes across as obscure and complicated, and we try to help the public understand what we do.”

“Forecasters have a lot to be humble about. It's a highly uncertain business, we're very much attuned to the risks and watching the data carefully.”

“Higher asset prices increase wealth and, with a lag, induce higher spending.”

“I am unable to think of any critical, complex human activity that could be safely reduced to a simple summary equation.”

“I think men and women should make the same for the same work, by and large.”

“I think the law is clear that I have a four-year term and I intended to serve it.”

“If inflation were to move up in ways that are unwelcome, we have the tools for that, and we will use them. No one should doubt that.”

“In the long run, and even in the medium run, you wouldn’t want to bet against the American economy.”

“Longer and deeper recessions tend to leave behind damage to people’s careers. And that weighs on the economy going forward.”

“More regulation is not the best answer to every problem.”

“My own experience is that the best outcomes are reached when opposing viewpoints are clearly and strongly presented before decisions are made.”

“No single housing finance institution should be too big to fail.”

“Our discussions of the economy may sometimes ring in the ears of the public with more certainty than is appropriate.”

“Our obligation is to use our tools to support the economy, and that’s what we’ll continue to do.”

“Over time, low rates can put pressure on the business models of financial institutions.”

“The Federal Reserve is committed to fulfilling our statutory mandate of stable prices and maximum employment.”

“The financial crisis and the Great Recession left firms with excess capacity, reducing incentives to invest. If businesses expect slower growth to continue, that will also hold down investment.”

“The financial crisis involved significant failures in the functioning, regulation, and supervision of OTC derivatives markets.”

“The financial crisis revealed important weaknesses in many areas of our financial system.”

“The longer workers are unemployed, the greater the likelihood that their skills will erode and workers will lose attachment to the labor force, permanently damaging the economy's dynamism and potential output.”

“The main long-run contribution monetary policy can make is to provide a stable macroeconomic and financial environment.”

“The United States is the world’s reserve currency. The dollar is the world’s reserve currency. And we have the ability to borrow at low rates. We have the ability to service that debt.”

“There is no risk-free path for monetary policy.”

“We can see the end. We just need to get there.”