American history Quote by Jerome Powell
“The Fed's organization reflects a long-standing desire in American history to ensure that power over our nation's monetary policy and financial system is not concentrated in a few hands, whether in Washington or in high finance or in any single group or constituency.”
About This Quote
Source Speech: Remarks at Federal Reserve, 2023
The Fed is designed to prevent monetary power from being held by a small elite, spreading authority across institutions and regions.
In simple terms: The Fed spreads monetary power to avoid concentration.
Support decentralized oversight.
Themes
Mood
Type
When to use this quote
- policy making
- financial regulation
- central banking
- public accountability
Key Concepts
Questions to Reflect On
- How can transparency be improved?
- What safeguards are most effective?
Concentration can still occur through informal networks.