If the Federal Reserve pursues a strong dollar at home while the dollar becomes more competitive in global markets, we can achieve both price stability and a more balanced path of economic growth.
On 24 August 1939, as an officer in the reserve, I had to join my regiment in Potsdam.
As the dollar's exchange value declines, so will the value of dollar-denominated financial instruments, regardless of how many bonds the Federal Reserve purchases.
There are no accounting issues, no trading issues, no reserve issues, no previously unknown problem issues.
Fostering transparency and accountability at the Federal Reserve was one of my principal objectives when I became Chairman in February 2006.
Musicians burn through more cash than the Federal Reserve.
The Federal Reserve places great importance on our relations with the Bundesbank. Few such relationships have been as important, over the decades, in promoting financial stability and prosperity around the world.
Transparency concerning the Federal Reserve's conduct of monetary policy is desirable because better public understanding enhances the effectiveness of policy. More important, however, is that transparent communications reflect the Federal Reserve's commitment to accountability within our democratic system of government.
It's true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles.
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.
There is a European Central Bank, of course, established and it has the structure similar to the Federal Reserve system, not precisely the same but similar.
We reserve our deepest respect and admiration for those who volunteer for service and give their lives to help keep our nation secure.
The main reserve of the Haisla Nation hugs the northwest coast of British Columbia, about 500 miles north of Vancouver. The government docks sprawl on the south end of the reserve, nestled in a bay. As children, we swam at the docks and ran to the nearby point to pick blueberries and huckleberries when we were hungry so we wouldn't have to go home.
I'm from a reserve. A reservation. So I know everybody. Everybody knows me.
Census data influences decisions made from Main Street to Wall Street, in Congress and with the Federal Reserve. Not to mention, the American people who look to, and trust, the data the government releases on our nation's unemployment, state of our economy, and health insurance coverage.
Man must at all costs overcome the Earth's gravity and have, in reserve, the space at least of the Solar System.
In the university library, we know when a book has been used in a class or put on reserve... or while it was out, did somebody call it back in. It turns out to be a pretty good indicator of how relevant the work is at that time.
You can't fall back on the private sector and say, 'You take care of the nation's banking system.' That's a fundamental function of the government, the Federal Reserve, the Treasury and the FDIC, etc. All of those agencies have a major role to play there.
I do think some digital currency will end up being the reserve currency of the world. I see a path where that's going to happen.
Even though the National Guard and Army Reserve see combat today, it rankles me that people assume it was some kind of waltz in the park back then.
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.
So if the euro, if Euroland is to become a reserve center, if the euro is to become a reserve currency, Euroland will have to have a deficit in its overall balance of payments.
Common hedging techniques include shorting stocks, buying put options, writing call options, and various types of leverage and paired transactions. While I do reserve the right to use these tools if and when appropriate, my firm opinion is that the best hedge is buying an appropriately safe and cheap stock.
If somebody had said to me in June or July of 1987, 'We'd like you to become chairman of the Federal Reserve, but you're never allowed to discuss any economics after you leave,' I'd have said, 'Forget it.' What do they want me to do? Become an anthropologist?'
The only person Henry Kissinger flattered more than President Richard Nixon was Mohammad Reza Pahlavi, the shah of Iran. In the early 1970s, the shah, sitting atop an enormous reserve of increasingly expensive oil and a key figure in Nixon and Kissinger's move into the Middle East, wanted to be dealt with as a serious person.
In the past, Federal Reserve chairmen have not generally gone directly to the public.
Another question has been raised rather widely in Europe, in Japan as well as in the United States is what, to what extent will the euro become a reserve currency.
There should be a readiness, on our part, to investigate with candor to follow the truth wherever it may lead us, and to submit, without reserve or objection, to all the teachings of this religion, if it be found to be of divine origin.
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.
With our Reserve and Guard units playing increasingly important roles in the war on terror and in Iraq, it is unacceptable to make them jump through any unnecessary hurdles.
Remember, Alan Greenspan was a member of Ayn Rand's collective. To understand this is to understand why we are doomed with the Federal Reserve.
Dodd-Frank greatly expanded the regulatory reach of the Federal Reserve. It did not, however, examine whether it was correctly structured to account for these new and expansive powers. Therefore, the Committee will be examining the appropriateness of the Fed's current structure in a post Dodd-Frank world.
There are a few things that people all around the world need to admit to themselves. Trade restraints slow economic growth, the euro is not a reserve currency, and scoreless sports ties are boring.
You know, if we're going to bring down the price of gas, you have to have three things. You have to have a big reserve, you have to have the ability to develop oil out of that reserve quickly, and you have to be able to produce oil at a relatively low cost.
I would always reserve a special place in my heart for Pittsburgh.
The Federal Reserve is incapable of accomplishing its stated objectives.
