A Quote by Jerome Powell
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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There is a big divergence between views on a variety of policy issues from fiscal stimulus to financial regulation. It's my hope and my ambition for the economics profession that as we advance our knowledge, that those discussions will narrow in their focus, and that it will help to have more prudent policy-making down the road.
Religious factions will go on imposing their will on others unless the decent people connected to them recognize that religion has no place in public policy. They must learn to make their views known without trying to make their views the only alternatives.
Monetary policy transmission encompasses the whole continuum of interest rates; of course, the central bank only determines the overnight policy rate.
We made a decision that monetary policy will be made by an independent European Central Bank.
For a small open economy that trades mostly with the euro zone it makes absolute sense to be part of the currency union. Our currency has already pegged to the euro since 2002. We don't have an independent monetary policy. We are regulated by the European Central Bank in Frankfurt, but we are not able to reap all the profits. Our businesses want to save the transaction costs.
The more guidance a central bank can provide the public about how policy is likely to evolve the greater the chance that market participants will make appropriate inferences.
In principle, there are only three main components of spending that much matter to monetary policy: consumer spending, business investment and exports and trade.
In 1977, when I started my first job at the Federal Reserve Board as a staff economist in the Division of International Finance, it was an article of faith in central banking that secrecy about monetary policy decisions was the best policy: Central banks, as a rule, did not discuss these decisions, let alone their future policy intentions.
In stabilizing the macroeconomic environment, we have focused on aligning fiscal with monetary policy and nudging the central bank toward the objective of more market-determined exchange rates.
To operate with the aspiration of color-blindness in a country whose central operating mechanism for centuries has been race belies the logic of race-neutral public policy. Public policy must account for the historic and intentional pillaging of resources experienced by black Americans.
Global central banks are working hard to lift their economies through an aggressively easy monetary policy. The ECB [European Central Bank] and BOJ [Bank of Japan] are buying tens of billions of bonds and other financial securities each month in an effort to stimulate their economies, which is pushing down rates everywhere, including in the U.S.
I've always believed in expansionary monetary policy and if necessary fiscal policy when the economy is depressed.
We have a raising wages agenda. And that includes tax policy, trade policy. TPP is a very bad agreement. Covers 40 percent of the world's economy, and it will cost us jobs. It's not well-drafted. It's an agreement, an investment agreement that will benefit Wall Street a lot, but not working people.
The way that you eliminate bad and ugly is either through activism and policy making that never tolerates evil -- instead of the liberal politically correct policy of accepting evil and accepting other points of views that destroy lives. We the thoughtful, productive people of American have got to take our freedom back.
The military has a huge role in the economy [of Pakistan] with big stakes and, as you say, it has constantly intervened to make sure that it keeps its hold on policy making. Well, I hope, and there seem to be some signs, that the military is taking a backseat, not really in the economy, but in some of the policy issues. If that can continue, which perhaps it will, this will be a positive development.
I think if we have a policy of zero violence, it won't be met, but the policy of getting the Iraqis in the fight and marginalizing those who are trying to stir up trouble will be effective.
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