Leaders / Innovators

33 Jerome Powell Quotes (FEDERAL RESERVE)

December 1, 2023December 1, 2023

Top 10 Most Famous Jerome Powell Quotes (BEST)

In the long run, and even in the medium run, you wouldn't want to bet against the American economy. — In the long run, and even in the medium run, you wouldn’t want to bet against the American economy.

The financial crisis revealed important weaknesses in many areas of our financial system.

Our obligation is to use our tools to support the economy, and that's what we'll continue to do. — Our obligation is to use our tools to support the economy, and that’s what we’ll continue to do.

More regulation is not the best answer to every problem.

I think men and women should make the same for the same work, by and large.

Additional fiscal support could be costly, but worth it if it helps avoid long-term economic damage and leaves us with a stronger recovery. — Additional fiscal support could be costly, but worth it if it helps avoid long-term economic damage and leaves us with a stronger recovery.

The main long-run contribution monetary policy can make is to provide a stable macroeconomic and financial environment.

We live in a world defined by the rapid pace of technological change. — We live in a world defined by the rapid pace of technological change.

This economy will recover. And that means people will go back to work. Unemployment will get back down.

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

10 Jerome Powell Quotes on the U.S. Economy

We were in a good place in February of 2020, and we think we can get back there, I would say, much sooner than we had feared. — We were in a good place in February of 2020, and we think we can get back there, I would say, much sooner than we had feared.

The United States is the world's reserve currency. The dollar is the world's reserve currency. And we have the ability to borrow at low rates. We have the ability to service that debt. — The United States is the world’s reserve currency. The dollar is the world’s reserve currency. And we have the ability to borrow at low rates. We have the ability to service that debt.

There is no risk-free path for monetary policy.

By purchasing and holding large amounts of Treasury securities and MBS, we put additional downward pressure on term premiums and so on long-term rates.

Longer and deeper recessions tend to leave behind damage to people's careers. And that weighs on the economy going forward. — Longer and deeper recessions tend to leave behind damage to people’s careers. And that weighs on the economy going forward.

Over time, low rates can put pressure on the business models of financial institutions.

We understand that America's prosperity is bound up with the prosperity of other nations, including emerging market nations. — We understand that America’s prosperity is bound up with the prosperity of other nations, including emerging market nations.

I am unable to think of any critical, complex human activity that could be safely reduced to a simple summary equation.

We need a national focus on increasing the sustainable growth rate of our economy.

I think the law is clear that I have a four-year term and I intended to serve it.

6 Jerome Powell Quotes on Banks

As with so many sectors of the economy, technology is transforming the retail banking sector.

After the last financial crisis, the banks more than doubled their capital and liquidity and they're far more aware and better at managing the risks they're taking. — After the last financial crisis, the banks more than doubled their capital and liquidity and they’re far more aware and better at managing the risks they’re taking.

No single housing finance institution should be too big to fail.

We need a system that provides mortgage credit in good times and bad to a broad range of creditworthy borrowers.

The banking industry has traditionally been characterized by physical branches, privileged access to financial data, and distinct expertise in analyzing such data.

A digital currency issued by a central bank would be a global target for cyber attacks, cyber counterfeiting, and cyber theft.

4 Jerome Powell Quotes on Inflation and Interest Rate

“We have lowered interest rates to near zero in order to bring down borrowing costs. We have also committed to keeping rates at this low level until we are confident that the economy has weathered the storm.”
Jerome Powell

If inflation were to move up in ways that are unwelcome, we have the tools for that, and we will use them. No one should doubt that. — If inflation were to move up in ways that are unwelcome, we have the tools for that, and we will use them. No one should doubt that.

When the time comes to raise interest rates, we’ll certainly do that, and that time, by the way, is no time soon [2021]. — When the time comes to raise interest rates, we’ll certainly do that, and that time, by the way, is no time soon [2021].

The expectation of gradual policy normalization should reduce the likelihood of outsized movements in interest rates.

3 Jerome Powell Quotes on the Effect of Coronavirus in the Economy

“It’s very hard to say how big the effects will be or how long they will last. That’s going to depend of course on how widely the virus spreads, which is something that is highly uncertain and I would say, in fact, unknowable.”
Jerome Powell

The path ahead for the economy is highly uncertain and continues to depend to a significant degree on the path of the pandemic.

Until the public is confident that the disease is contained, a full recovery is unlikely.

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(MUST READ) The Great Devaluation

The Great Devaluation: How to Embrace, Prepare, and Profit from the Coming Global Monetary Reset — The Great Devaluation: How to Embrace, Prepare, and Profit from the Coming Global Monetary Reset

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