A Quote by Milton Friedman

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

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Federal Federal Reserve High Institution Long Major Over Performance Period Poor Public Record Reputation Reserve Us

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Milton Friedman
American - Economist
July 31, 1912 - November 16, 2006

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

Excellence is a high performance over a long period of time. That's what I've tried to focus on.

Jason Witten

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

Transparency concerning the Federal Reserve's conduct of monetary policy is desirable because better public understanding enhances the effectiveness of policy. More important, however, is that transparent communications reflect the Federal Reserve's commitment to accountability within our democratic system of government.

Janet Yellen

If the Federal Reserve pursues a policy which Congress or the President believes not to be in the public interest, there is nothing Congress can do to reverse the policy. Nor is there anything the people can do. Such bastions of unaccountable power are undemocratic. The Federal Reserve System must be reformed, so that it is answerable to the elected representatives of the people.

Wright Patman

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

The Federal Reserve Act requires the Federal Reserve to report annually on its operations and to publish its balance sheet weekly.

Ben Bernanke

First reason is, it's not authorized in the Constitution, it's an illegal institution. The second reason, it's an immoral institution, because we have delivered to a secretive body the privilege of creating money out of thin air; if you or I did it, we'd be called counterfeiters, so why have we legalized counterfeiting? But the economic reasons are overwhelming: the Federal Reserve is the creature that destroys value.

Ron Paul

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

I think it would be interesting to know about the Federal Reserve. I think we should audit the Federal Reserve - it's taxpayer's money that's being used there.

Harry Reid

Despite all the media coverage, glitz and glam of hedge funds, they have not done well for their investors. They have high - some say excessively high - fees; their short- and long-term performance has been poor.

Barry Ritholtz

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

In the past, Federal Reserve chairmen have not generally gone directly to the public.

Ben Bernanke

The increase in the assets of the Federal Reserve Banks from 143 Million dollars in 1913 to 45 Billion dollars in 1949 went directly to the private stockholders of the [Federal Reserve] banks.

Eustace Mullins

Reputation is seeming; character is being. Reputation is manufactured; character is grown. Reputation is your photograph; There is a vast difference between character and reputation. Reputation is what men think we are; character is what God knows us to be. Reputation is seeming; character is being. Reputation is the breath of men; character is the inbreathing of the eternal God. One may for a time have a good reputation and a bad character, or the reverse ; but not for long.

Robert Stuart MacArthur

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

A Quote by Milton Friedman

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