Political Quotes

“last week, I indicated I was going to come to the Chamber and share with the Members of the Senate the names and faces of those who helped make interest rate policy in our country. I suggest we should do that because these are people who almost no one would recognize and yet they play a significant role in the lives of every American. Before I introduce them, let me tell you about the letter we are sending to Alan Greenspan, and the importance of this letter. Thirty-seven Members of the House of Representatives and 8 Senators, without a lot of circulation, have signed a letter that says we think that you ought to share, Mr. Greenspan and Federal Reserve Board members with the Congress and especially with the American people, what kind of information you are looking at that justifies your decision to increases in interest rates three times in this country in the past several months. Is inflation on the rise? No, inflation has gone down for 3 straight years. Is there more capacity in this country to handle economic growth? Of course, there is. We have plenty unemployed; we have substantial amounts of plant and equipment that are not in use. So what is it that suggests to the Federal Reserve Board that we ought to have interest rate increases to put the brakes on the American economy at exactly the time when we need a steady cruising speed to get this economy up to speed and to produce new jobs for the American people?”