A Quote by Jerome Powell
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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The Global Financial Crisis and Great Recession posed daunting new challenges for central banks around the world and spurred innovations in the design, implementation, and communication of monetary policy.
We will not play with inflation. We are living a delicate moment. President Obama spoke to me today about the high unemployment affecting the United States. In this crisis period, when the developed nations are not recovering, it's prudent to maintain the established inflation target.
As the United States continues its slow but steady recovery from the depths of the financial crisis, nobody actually wants a massive austerity package to shock the economy back into recession, and so the odds have always been high that the game of budgetary chicken will stop short of disaster. Looming past the cliff, however, is a deep chasm that poses a much greater challenge -- the retooling of the country's economy, society, and government necessary for the United States to perform effectively in the twenty-first century.
The United States has experienced high rates of inflation in the past and appears to be running the same type of fiscal policies that engendered hyperinflations in 20 countries over the past century.
The world is beset by challenges including the ongoing danger of international terrorism, and the significant political and economic threats posed by factors such as the high levels of corporate and sovereign debt and persistent unemployment.
Similar questions were posed to Allende as to me. Allende was told that he blamed everything on a conspiracy, on the economic crisis, that he blamed the high inflation that sabotaged him on the United States, and that he was frequently accusing the little lambs of Nixon and Kissinger of a coup. But everything became known later.
I think the ethos for Gov. Romney is to use a whole variety of policies, of which tax policy is one, to try to raise the rate of growth. We've had a recovery from the financial crisis that would be well below what one might normally expect for a recovery from such a deep recession. And to counteract that we need better tax policy.
This crisis exposed very significant problems in the financial systems of the United States and some other major economies. Innovation got too far out in front of the knowledge of risk.
A European currency will lead to member-nations transferring their sovereignty over financial and wage policies as well as in monetary affairs... It is an illusion to think that States can hold on to their autonomy over taxation policies.
The housing and financial crisis could not have occurred in the absence of government housing and monetary policies.
The United States is like the Titanic, and I'm here with the lifeboat trying to get people to leave the ship... I see a real financial crisis coming for the United States.
The unique aspect of today's monetary inflation is that it is not limited to one country, but a host of countries are all inflating together. As a result of the monetary inflation (when all of the newly created money begins to leave the banks and enter the system), the price inflation will be worldwide.
The main long-run contribution monetary policy can make is to provide a stable macroeconomic and financial environment.
The United States came into the coronavirus recession with a few structural advantages, including a highly diversified economy.
I fear that in the next century we will have many more Muslims in the United States if we do not adopt the strict immigration policies that I believe are necessary to preserve the values and beliefs traditional to the United States of America and to prevent our resources from being swamped.
Let's stop for a second and remember where we were eight years ago [in 2008]. We had the worst financial crisis, the Great Recession, the worst since the 1930s. That was in large part because of tax policies that slashed taxes on the wealthy, failed to invest in the middle class, took their eyes off of Wall Street, and created a perfect storm.
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