Frederic Mishkin Quotes
You want to set rules, but with a lot of flexibility. 
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Rules | Flexibility |
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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
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.
- Frederic Mishkin