Elvira Nabiullina Quotes

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.

The Fed needs an approach that consolidates the gains of the Greenspan years and ensures that those successful policies will continue - even if future Fed chairmen are less skillful or less committed to price stability than Mr. Greenspan has been.

The job of the Central Bank is to worry.

Poland is one of the few countries that can afford to conduct a conventional monetary policy and that means we have to act against the buildup of imbalances in the economy.

It's true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles.

The principle that a central bank, charged with controlling inflation, should be independent from the government is unassailable. It may also be true that it's easier for the central bank to guard its independence from political pressure when it mainly holds government securities.

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.

Most of the policies that support robust economic growth in the long run are outside the province of the central bank.

The country needed someone credible to fight inflation and Volker was the man for the job…. He understood that the government had to establish credibility in order to give policy makers flexibility when they needed it.

The government will always tell you that it wants low inflation. The real issue is the horizon over which to bring inflation down.

I'm sure Mark Carney is a very clever young man, but I think that the government would be mad to move from inflation targeting to money GDP targeting.

There is no entity in the world that controls our lives more than the Federal Reserve System

However, in spite of the general perception that monetary policy should be conducted so as to avert deflation, a central bank cannot lower interest rates below the zero lower bound.

Since World War II, inflation - the apparently inexorable rise in the prices of goods and services - has been the bane of central bankers.

The central bank needs to be able to make policy without short term political concerns.

The Federal Open Market Committee (FOMC) is committed to policies that promote maximum employment and price stability, consistent with our mandate from Congress.

Low and stable inflation in many countries is an important accomplishment that will continue to bring significant benefits.

Whoever controls the volume of money in any country is absolute master of all industry and commerce.

Monetary policy itself cannot sensibly be directed at reducing imbalances.

We made a decision that monetary policy will be made by an independent European Central Bank.

He who controls the money supply of a nation controls the nation.

There's no other job in public life that is like chairman of the Fed.

Interest rates are used to achieve overall economic stability.

The more guidance a central bank can provide the public about how policy is likely to evolve the greater the chance that market participants will make appropriate inferences.

The Fed's independence is critical.