Robert Pozen Quotes

The Fed is the major U.S. firefighter. It's not the Treasury. It's not the Congress. We certainly saw that vividly in 2008.

The Fed is the greatest hedge fund in history.

It's complicated.' 'So's quantitative easing. But I still get that it means printing money.

The Fed is totally open.

The Federal Reserve can only buy Treasuries and agencies, and moreover quantitative easing typically involves buying longer-term Treasuries and agencies in terms of bills, for example.

The phrase 'perception is reality' is overused generally. But perception can be reality in monetary policy. The bond market doesn't act merely on what it sees. It acts on what it expects of the Fed or the government.

There's nothing the people love more than a Federal Reserve joke.

I believe that the market is slowly waking up to the fact that the Federal Reserve is a clueless organization. They have no idea what they're doing. And so the confidence level of investors is diminishing, in my view.

As you know, in the latter part of 2008 and early 2009, the Federal Reserve took extraordinary steps to provide liquidity and support credit market functioning, including the establishment of a number of emergency lending facilities and the creation or extension of currency swap agreements with 14 central banks around the world.

Well, I think as long as people are talking about stimulus, I think the Fed will be thinking about cutting rates because monetary policy is the better way to go because you can turn it on and turn it off.

The Fed is the biggest enemy of this economy. In fact, Ben Bernanke, as far as I'm concerned, he's public enemy No. 1. We're never going to have a recovery while this guy's in charge.

The Federal Reserve bank buys government bonds without one penny

A lot of people are down on Bernanke, but in my view, he saved the nation.

For the first time the committee [Federal Reserve] was using communication — mere words — as its primary monetary policy tool.

The Federal Reserve is playing a mind game—but with enormous real-world consequences.

In a financial crisis, only the Fed, as the lender of last resort, might stand between our economy and financial catastrophe. We must leave the Fed with the flexibility to provide liquidity in order to stop a financial panic.

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.

Earnings don't move the overall market; it's the Federal Reserve Board... focus on the central banks, and focus on the movement of liquidity... most people in the market are looking for earnings and conventional measures. It's liquidity that moves markets.

I believe that the history of Fed policymaking is that, you know, there are times when we need to raise rates.

It's time to stop pretending negative rates have any redeemable value - besides the ability to stimulate the market for physical safes.

When the former Fed chairman was in, Alan Greenspan was in, there was a saying back in those days that you called the 'Greenspan put.' Any time the treasury secretary - for the Fed chairman - said something, the market saw that as good news, and it took off.

Cheap money feels like the most natural thing in the world - if you don't think about why it's so cheap.

A snarky but accurate description of monetary policy over the past five years is that the Federal Reserve successfully replaced the technology bubble with a housing bubble

No major institution in the US has so poor a record of performance over so long a period as the Federal Reserve, yet so high a public reputation.

The Fed has one power that is unique to it alone: it enables the creation of money out of thin air. Sometimes it makes vast new amounts. Sometimes it makes lesser amounts. The money takes a variety of forms and enters the system in various ways. And the Fed does this through techniques such as open-market operations, changing reserve ratios, and manipulating interest rates, operations that all result in money creation.