“AIG's failure revealed systemic problems in the OTC derivatives market...” — Jerome Powell Quote

“AIG's failure revealed systemic problems in the OTC derivatives market that went well beyond the failure of a single market participant.”

“By purchasing and holding large amounts of Treasury securities and MBS, we put additional downward pressure on term premiums and so on long-term rates.”

“My colleagues on the Board of Governors and I understand the value of having a diverse financial system that includes a large and vibrant contingent of community banks.”

“Redlining went beyond FHA-backed loans and spread to the entire mortgage industry, which was already rife with racism, excluding black people from most legitimate means of obtaining a mortgage.”

“Beyond this day, no thinking person could fail to see what would happen.”

“I want to show the world that you can go beyond your thoughts, you can break more than you think you can break.”