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.
The Federal Reserve is incapable of accomplishing its stated objectives.
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If the fiscal cliff occurs, I don't think the Federal Reserve has the tools to offset that event.
Accomplishing Quotes
In the past, Federal Reserve chairmen have not generally gone directly to the public.
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Frequently Asked Questions
What's the general tone of these Federal Reserve quotes?
Skeptical — most question the Fed's effectiveness, transparency, or funding structure rather than praising its role in the economy.
Is there a quote about CFPB funding?
Yes, one objects to the CFPB being funded out of Federal Reserve profits, treating that funding structure as a core problem.
Does any quote question whether the Fed works?
One quote bluntly questions the Fed's effectiveness, arguing it simply can't deliver on what it's officially meant to achieve.
What does the quote about chairmen and the public mean?
It points out that, historically, people leading the Fed have rarely addressed the public directly themselves, favoring more indirect or technical channels of communication instead.
What can the Fed actually do, according to these quotes?
One line narrows the Fed's power down to something quite specific: extending loans that are backed by collateral, nothing more expansive than that.
Another notes that Federal Reserve chairmen have historically avoided speaking directly to the public, a habit that fuels distrust. A more technical line adds that the Fed can only make loans Against collateral, limiting what it can actually do.
