Arrangements Quote by Milton Friedman

“Had the Federal Reserve System never been established, and had a similar series of runs started, there is little doubt that the same measures…

— Milton Friedman

The Depression, which started in 1929 was rather mild from 1929 to 1930. And, indeed, in my opinion would have been over in 1931…

— Milton Friedman

Importantly, in the 1930s, in the Great Depression, the Federal Reserve, despite its mandate, was quite passive and, as a result, financial crisis became…

— Ben Bernanke

We certainly had an upheaval at the start of the Great Depression, and that resulted in a lot of financial reform, but it wasn't…

— Lloyd Blankfein

What happened was that for every $100 of money, by which I mean the cash that people keep in their pockets, and the deposits…

— Milton Friedman

Nothing did more to spur the boom in stocks than the decision made by the New York Federal Reserve bank, in the spring of…

— Bernard Baruch

The Federal Reserve the privately owned U.S. central bank definitely caused The Great Depression by contracting the amount of currency in circulation by one…

— Milton Friedman

“The Federal Reserve System had been established to prevent what actually happened. It was set up to avoid a situation in which you would…

— Alan Ebenstein

Fractional reserve banks are sitting ducks and are always subject to contraction. When the banks' state of inherent bankruptcy is discovered, for example, people…

— Murray Rothbard

By the beginning of the 20th century, the debate about monetary policy and the nation's financial system had been going on for over a…

— Jerome Powell

“Although the United States, with its unit banking laws, had thousands of bank failures, Canada, which permitted branch banking, didn't have a single failure…

— Jim Powell

It's true that monetary policy was too lax for too long, and the government encouraged lending to people who were unlikely to repay their…

— Paul Singer