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— Noam Chomsky"the Federal Reserve, has an official commitment to two different policies. One is to prevent inflation from getting too high. The second is to maintain high employment... The European central bank has only the first. It has no commitment to keep employment up."
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The central banks cannot control interest rates. That's a mistake. They can control a particular rate, such as the Federal Funds rate, if they want to, but they can't control interest rates.
— Milton Friedman
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Any central bank should only be in charge of liquidity. Solvency is a matter for the treasury.
— George Soros
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