Konnie Huq Quotes

Long before folks fretted the demise of 'quantitative easing,' I fretted its existence. It proved the reverse of its image, an antistimulus, and we've done okay not because of it, but despite it.

The Fed contributed to the financial crisis, keeping interest rates too low for too long. I give them credit for responding and stabilizing the economy and the financial sector during the crisis. But then they tried to do too much with quantitative easing that went on forever, just dramatically exploding their balance sheets.

I don't think quantitative easing is deliberately misleading, but I do think it's suspiciously bland and reassuring. It doesn't sound like anything big, experimental, scary and strange - which is what many economists think it is.

I never liked quantitative easing. It's misunderstood by almost everybody. Flattening the yield curve is not stimulative; flattening the yield curve is anti-stimulative.

I think the Fed is not designed to have effective tools to deal with the economy. It should settle for just controlling the money supply. And - if it insists, it can worry about inflation.

The Fed [Federal Reserve System], whether it likes it or not, is required to provide adequate reserves to the banking system in order for the government to finance its needs, even when that is inflationary.

We have lost control over the financial system ... by printing much more money than in previous years.

In effect, there has been a significant shortfall in the overall amount of monetary policy stimulus since early 2009.

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.

The central focus of what we are doing at the Fed is to keep inflation from accelerating - and preferably decelerating.

The Fed has the ability to put money out, it's got the ability to take money back in, and if they don't do that, we will have hyperinflation worse than we had in 1980 and 1981.

It's pointless to talk to Fed members about economics because they are academics who believe in money-printing. Some of them believe they didn't print enough, and so with these kinds of people, it is like running to the pope. What do you want to tell them?

Each money-printing exercise brings about unintended consequences. These unintended consequences are higher inflation rates than had no money been printed.

In a world where wealth is growing, you can get away with printing money. Doubling the debt over the next 20 years is not a problem.

Central bankers got it right in the United States in 1987 when they avoided deflationary pressures as well as serious trouble in the banking system.

There is always the potential for a central bank to engage in discretionary monetary policy and to break the one-to-one link between changes in foreign reserves and changes in the money supply.

The Federal Reserve bank buys government bonds without one penny

The Federal Reserve Act as it stands seems to me to open the way to a vast inflation of the currency... I do not like to think that any law can be passed that will make it possible to submerge the gold standard in a flood of irredeemable paper currency.

If by carelessness in controlling inflation and imposing controls on our general economy we are unable to meet these temporary but vital calls upon us, we will be courting real disaster.

Our Federal Reserve has unlimited money raising powers.

Well, the chairman of Federal Reserve just made his move to rescue Barack Obama. We're gonna have QE3. We're gonna print some more money.

Every time the Fed implements 'quantitative easing,' a.k.a. printing more money, two things go up: taxes and inflation. When taxes and inflation go up, more jobs are lost.

In 2006, the Congress had approved plans to allow the Fed, beginning in 2011, to pay interest on banks' reserve balances. In the fall of 2008, the Congress moved up the effective date of this authority to October 2008.

Until the Fed dumps inflation targeting and the U.S. abandons its weak-dollar policy, inflation will rule the day.

The greatest economic power might in fact remain in the hands of the Federal Reserve. Economists credit the Fed's policy of keeping interest rates at historic lows with helping to pump up the economy and bring unemployment down.