Agency Quote by Wright Patman
“There have been times when the Federal Reserve has restricted the money supply and raised interest rates to gain an end, which had much better been left to another Government agency or the Congress to attain. The country could have had lower interest rates without sacrificing anything else.”
About This Quote
Source Speech: Congressional Record, 1975
Monetary policy should be left to specialized agencies, not the Fed, to avoid unnecessary rate hikes.
In simple terms: Fed shouldn't set rates alone.
Key Takeaway
Delegate monetary decisions appropriately.
Themes
economic policy
government oversight
interest rates
Mood
analytical
policy‑oriented
Type
economic
political
When to use this quote
- budget planning
- business investment
- personal loans
Key Concepts
fiscal responsibility
central banking
Questions to Reflect On
- Who should set interest rates?
- What are the risks of politicizing monetary policy?
A Different Perspective
Political constraints may limit agency independence.
![“We have no clear ideas of the agency of [demonic] spirits, nor is it necessary. The Scripture says little to satisfy our curiosity; but tells us plainly that he is always watching us, and desiring to sift us as wheat. I believe we give him no more than his due, when we charge him with having a…” quote by John Newton](https://sms4smile.com/quotes/img-quotes/c75/john-newton-6629_abundance_we-have-no-clear-ideas-of-the-agency-of_2907.jpg)
