American - Public | February 4, 1953 -
Long-term economic growth depends mainly on nonmonetary factors such as population growth and workforce participation, the skills and aptitudes of our workforce, the tools at their disposal, and the pace of technological advance. Fiscal and regulatory policies can have important effects on these factors.
Jerome Powell
GrowthToolsImportantSkills
Risk management systems and controls may discourage or limit certain revenue-generating opportunities. Failure to ensure the independence of these functions from the revenue generators and risk takers has been shown to be dangerous, and this is something for which the board is accountable.
FailureManagementOpportunitiesRisk
A digital currency issued by a central bank would be a global target for cyber attacks, cyber counterfeiting, and cyber theft.
TargetCyberDigitalBankTheft
The Fed's organization reflects a long-standing desire in American history to ensure that power over our nation's monetary policy and financial system is not concentrated in a few hands, whether in Washington or in high finance or in any single group or constituency.
PowerHistoryFinanceOrganization
Against this backdrop of technological change and heightened expectations, it is worth remembering our broad public policy objectives, which are driven by the fundamental importance of the payments system in our society.
ChangeSocietyExpectationsWorth
The main long-run contribution monetary policy can make is to provide a stable macroeconomic and financial environment.
FinancialEnvironmentContribution
AIG's failure revealed systemic problems in the OTC derivatives market that went well beyond the failure of a single market participant.
FailureProblemsBeyondSingleWell
Long experience, in the United States and in other advanced economies, has demonstrated that monetary policy is most successful when decisions are rendered independent of influence by elected officials.
ExperienceInfluenceDecisionsLong
There is certainly a role for regulation, but regulation should always take into account the impact that it has on markets, a balance that must be constantly weighed.
BalanceImpactAlwaysTakeRole
I am unable to think of any critical, complex human activity that could be safely reduced to a simple summary equation.
SimpleI AmThinkHumanComplex
The revenue stream for Social Security benefits comes from payroll taxes, which are credited to the Social Security Trust Fund - accounting for the program's finances separately from the rest of the budget.
TrustAccountingRestSecurityTaxes
There is no risk-free path for monetary policy.
PathPolicyMonetaryMonetary Policy
Copyright © 2024 QuotesDict Jerome Powell quotes