The biggest issue I have with the CFPB is that I don't believe that they should be funded out of profits from the Federal Reserve.
Sentiment: NEGATIVE
It's true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles.
The reason I am so negative about the Federal Reserve's policies is that they only target core inflation and argue that they can't identify bubbles, but when each bubble bursts, they flood the system with liquidity that brings about unintended consequences.
The Fed's policy choices can always be debated, but the quality and commitment of the Federal Reserve as a public institution is second to none, and I am proud to lead it.
If Federal Reserve loans are subsidies, it doesn't show up in the federal budget.
The Federal Reserve's job is to do the right thing, to take the long-run interest of the economy to heart, and that sometimes means being unpopular. But we have to do the right thing.
The Federal Reserve has always recognized the importance of allowing markets to work, and government oversight of financial firms will never be fully effective without the aid of strong market discipline.
The Bush administration did stop filling the reserve in 2002 when it helped the oil industry. Now they should do it to help the consumer.
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.
There's nothing the people love more than a Federal Reserve joke.
I find it very difficult to see a scenario where financial regulation doesn't pass the Senate.
No opposing quotes found.