If Wall Street crashes, does Main Street follow? Not necessarily.
I’d throw dollars out of helicopters if I had to, to stimulate the economy.
Under current law, on January 1st, 2013, there is going to be a massive fiscal cliff of large spending cuts and tax increases.
Both humanity’s capacity to innovate and the incentives to innovate are greater today than at any other time in history.
Investment banks manage to go bankrupt through their investment-banking activities, commercial banks manage to go bankrupt through their commercial-banking activities.
The best approach here if at all possible is to use supervisory and regulatory methods to restrain undue risk-taking and to make sure the system is resilient in case an asset price bubble bursts in the future.
The more guidance a central bank can provide the public about how policy is likely to evolve the greater the chance that market participants will make appropriate inferences.
The risk exists that, with aggregate demand exhibiting considerable momentum, output could overshoot its sustainable path, leading ultimately in the absence of countervailing monetary policy action to further upward pressure on inflation.
Our mission, as set forth by the Congress is a critical one: to preserve price stability, to foster maximum sustainable growth in output and employment, and to promote a stable and efficient financial system that serves all Americans well and fairly.
The people who best use their advantages, or overcome adversity, and work honestly are those most worthy of admiration.
I come from Main Street, from a small town that’s really depressed.
How much would you pay to avoid a second Depression?
I am confident that we will meet whatever challenges the future may bring.
One might as well try to perform brain surgery with a sledgehammer.
I don’t fully understand movements in the gold price.
Although low inflation is generally good, inflation that is too low can pose risks to the economy – especially when the economy is struggling.
The financial crisis appears to be mostly behind us, and the economy seems to have stabilized and is expanding again.
The risk that the economy has entered a substantial downturn appears to have diminished over the past month or so.
The GSEs are adequately capitalized. They are in no danger of failing.
House prices have risen by nearly 25 percent over the past two years. Although speculative activity has increased in some areas, at a national level these price increases largely reflect strong economic fundamentals.