A Quote by Richard Shelby

Federal Reserve officials have stressed the importance of the Fed's independence. But such independence does not mean that it is immune from Congressional oversight.

Richard Shelby

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Independence Congressional Does Fed Federal Federal Reserve Immune Importance Mean Officials Oversight Reserve Stressed

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Richard Shelby
American - Politician
Born: May 6, 1934

Bankers themselves govern the Fed to some extent, and then there's the classic revolving door where Fed officials come from and then go back to the financial sector. Fed officials tend to believe that the institution should have a large measure of independence from democratic control, even though in law it is under the ostensible control of Congress.

Gerald Epstein

Maturity is not equated with independence though it includes a certain capacity for independence...The independence of the mature person is simply that he does not collapse when he has to stand alone. It is not an independence of needs for other persons with whom to have relationship: that would not be desired by the mature.

Nancy Chodorow

The Federal Reserve has always recognized the importance of allowing markets to work, and government oversight of financial firms will never be fully effective without the aid of strong market discipline.

Ben Bernanke

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

Leaders have devoted themselves to politics, little knowing, it seems that political independence disappears without economic independence that economic independence is the foundation of political independence.

Booker T. Washington

Independence of Judiciary means independence from Executive and Legislature, but not independence from accountability.

Prashant Bhushan

The one thing I wanted was independence. And I realised to have that independence, you needed financial independence.

Karren Brady

Self-determination could mean independence, confederacy, federal and autonomy.

Jalal Talabani

Paying interest on reserve balances enables the Fed to break the strong link between the quantity of reserves and the level of the federal funds rate and, in turn, allows the Federal Reserve to control short-term interest rates when reserves are plentiful.

Janet Yellen

I don't think it's possible for the Fed to end its easy-money policies in a trouble-free manner. Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets, so there is no reason to suspect that the actual process of boosting rates would be any different. I think that real pressure is going to occur not by the initiation by the Federal Reserve, but by the markets themselves.

Alan Greenspan

I was Chairman of the Federal Reserve Bank of Kansas City. As you know, there are twelve banks and they have their citizens board, and I got elected to the Fed Chairmanship for the Federal Reserve Kansas City Bank back in the mid-'90s. It might have been 1995-'96.

Herman Cain

The Congress has had an uneasy relationship with banks and bankers since Alexander Hamilton. It took the United States until 1913 to set up a central bank. The Federal Reserve earned its hard-won independence over years of effort.

Robert Zoellick

Dissent is the mark of freedom, as originality is the mark of independence of mind. … No one can be a scientist … if he does not have independence of observation and of thought.

Jacob Bronowski

The Federal Reserve and other central banks have adopted broad public policy objectives to guide the development and oversight of the payments system. At the Fed, we have identified efficiency and safety as our most fundamental objectives, as set forth in our Policy on Payment System Risk.

Jerome Powell

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

As both a career intelligence officer and as an American citizen, I am a strong believer in the importance of oversight. Simply put, experience has taught us that CIA cannot be effective without the people's trust, and we cannot hope to earn that trust without the accountability that comes with Congressional oversight.

Gina Haspel

A Quote by Richard Shelby

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