The Federal Reserve. . . is in the position of the chaperone who has ordered the punch bowl … - William McChesney Martin

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As we know from our government, the more power you have, the more of a bureaucrat you are, and the more ego you have invested in being right, the greater the odds are that you will never change your opinion.

William McChesney Martin

The Federal Reserve. . . is in the position of the chaperone who has ordered the punch bowl removed just when the party was really warming up.

Chaperone, Chaperones, Federal Reserve, Party, Punch

Same Author Quotes

Too many of our prejudices are like pyramids upside down. They rest on tiny, trivial incidents, but they spread upward and outward until they fill our minds.

Incidents, Mind, Outward, Prejudice, Prejudices, Pyramids

Our purpose is to lean against the winds of deflation or inflation, whichever way they are blowing.

Inflation, Purpose, Way, Wind, Winds

What's good for the United States is good for the New York Stock Exchange. But what's good for the New York Stock Exchange might not be good for the United States.

Exchange, Might, New York, States, United States, York

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Every rep that you take off, somebody else gets another look. That's just how I am. It's not a matter of being paranoid, it's a matter of being confident and not taking anything for granted.

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Developed and benefited from the unsustainable patterns of production and consumption which have produced our present dilemma. It is clear that current lifestyles and consumption patterns of the affluent middle class-involving high meat intake, consumption of large amounts of frozen and convenience foods, use of fossil fuels, appliances, home and work-place air-conditioning, and suburban housing-are not sustainable. A shift is necessary toward lifestyles less geared to environmentally damaging consumption patterns.

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