A Quote by Jerome Powell

The Congress has tasked the Federal Reserve with achieving stable prices and maximum employment - the dual mandate.

Jerome Powell

Quote Topics

Achieving Congress Dual Employment Federal Federal Reserve Mandate Maximum Prices Reserve Stable

Quote Author

Jerome Powell
American - Public Servant
Born: February 4, 1953

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

Jerome Powell

It may seem strange, but Congress has never developed a set of goals for guiding Federal Reserve policy. In founding the System, Congress spoke about the country's need for "an elastic currency." Since then, Congress has passed the Full Employment Act, declaring its general intention to promote "maximum employment, production, and purchasing power." But it has never directly counseled the Federal Reserve.

Wright Patman

Achieving price stability is not only important in itself, it is also central to attaining the Federal Reserve's other mandate objectives of maximum sustainable employment and moderate long-term interest rates.

Ben Bernanke

The Federal Open Market Committee (FOMC) is committed to policies that promote maximum employment and price stability, consistent with our mandate from Congress.

Janet Yellen

The Federal Reserve's monetary policy objective is to foster maximum employment and price stability. In this regard, a key challenge is to assess just how far the economy now stands from the attainment of its maximum employment goal.

Janet Yellen

I am strongly committed to pursuing the dual goals that Congress has assigned us: maximum employment and price stability.

Janet Yellen

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

Hyperinflation is not going to happen in this country, will never happen... The Fed putting so much money into the system is not going to create the risk of hyperinflation in the future. We have a strong independent Federal Reserve with a very strong mandate from the Congress, and they will do what's necessary to keep inflation low and stable over time.

Timothy Geithner

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

Our mission, as set forth by the Congress is a critical one: to preserve price stability, to foster maximum sustainable growth in output and employment, and to promote a stable and efficient financial system that serves all Americans well and fairly.

Ben Bernanke

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

The Federal Reserve's objectives of maximum employment and price stability do not, by themselves, ensure a strong pace of economic growth or an improvement in living standards. The most important factor determining living standards is productivity growth, defined as increases in how much can be produced in an hour of work.

Janet Yellen

the Federal Reserve, has an official commitment to two different policies. One is to prevent inflation from getting too high. The second is to maintain high employment... The European central bank has only the first. It has no commitment to keep employment up.

Noam Chomsky

The Federal Reserve has an official commitment to two different policies. One is to prevent inflation from getting too high. The second is to maintain high employment... the European Central Bank has only the first. It has no commitment to keep employment up.

Noam Chomsky

The retirement system that is in place for members of Congress and other federal workers features what is known as the Federal Employment Retirement Plan.