One of the most important qualifications to run the Federal Reserve is the ability to build consensus, which means you don't want to sound like you're saying, 'I'm smarter than you are,' ... And Ben is not full of himself he doesn't have to show that he's smarter than other people. As evidence of that, he has got tremendous clout at the Federal Reserve. You can talk to people at all levels, down in the staff or whatever -- this is someone who is respected and liked.
More Quotes from Frederic Mishkin:
The common law system in which the law is continually reinterpreted by judges ends up protecting property rights far more than others and makes it easier to enforce restrictive covenants.Frederic Mishkin
What is not appropriate is for the central bank to talk about the details of how the fiscal balance should be achieved. That's a political issue. It's something that the Federal Reserve should not be involved in talking about.
Frederic Mishkin
Ben has been very clear that controlling inflation is the primary long-term goal of the Fed. And he has the credibility to do that.
Frederic Mishkin
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