It may seem strange, but Congress has never developed a set of goals for guiding Federal Reserve policy. In founding the System, Congress spoke about the country's need for "an elastic currency." Since then, Congress has passed the Full Employment… — Wright Patman Copy Share Image
There are many reasons why the general public doesn't really understand our monetary system. In the first place, money is something that people tend… — Wright Patman Copy Share
Also, the Federal Advisory Committee should be enlarged and reorganized. Members should be chosen for the broadest possible representation of the public interest, their… — Wright Patman Copy Share
The Open Market Committee, as presently established, is plainly not in the public interest. This committee must be operated by purely public servants, representatives… — Wright Patman Copy Share
I have never yet had anyone who could, through the use of logic and reason, justify the Federal Government borrowing the use of its… — Wright Patman Copy Share
There have been times when the Federal Reserve has restricted the money supply and raised interest rates to gain an end, which had much… — Wright Patman Copy Share
Bad as "independence" is, the main fault of the Federal Reserve System - an admirable system if conducted in the public interest - is… — Wright Patman Copy Share
In a democracy the responsibility for the Government's economic policies, which so affect the economy, normally rests with the elected representative of the people:… — Wright Patman Copy Share
The dollar represents a one dollar debt to the Federal Reserve System. The Federal Reserve Banks create money out of thin air to buy… — Wright Patman Copy Share
The Federal Reserve is the overlord of the money supply. If these two are not steering in the same direction, they can either neutralize… — Wright Patman Copy Share
In the United States we have, in effect, two governments ... We have the duly constituted Government ... Then we have an independent, uncontrolled… — Wright Patman Copy Share
If the Federal Reserve pursues a policy which Congress or the President believes not to be in the public interest, there is nothing Congress… — Wright Patman Copy Share
It may seem strange, but Congress has never developed a set of goals for guiding Federal Reserve policy. In founding the System, Congress spoke… — Wright Patman Copy Share
