“It is not the responsibility of the Federal Bank – nor would it be appropriate – to protect lenders and investors from the consequences of their decisions”

A money-financed tax cut is essentially equivalent to Milton Friedman’s famous ‘helicopter drop’ of money.

The American people are among the most productive in the world. We have the best technologies. We have – great universities. We have entrepreneurs.

The Federal Reserve is not currently forecasting a recession.

The more important reason is that the research itself provides an important long-run perspective on the issues that we face on a day-to-day basis.

I come from Main Street, from a small town that’s really depressed.

Every effort needs to be made to try and offset the costs of Katrina and Rita by reductions in other government programs, especially those that are wasteful, duplicative and ineffective.

I don’t see much evidence of an equity bubble.

Education – lifelong education for everyone – from toddlers to workers well advanced in their careers – is indeed an excellent investment for individuals and society as a whole.

It must be awfully frustrating to get a small raise at work and then have it all eaten by a higher cost of commuting.

The impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained.

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.

If you are not happy with yourself, even the loftiest achievements won’t bring you much satisfaction.

Developments in financial markets can have broad economic effects felt by many outside the markets.

Nobody likes to fail but failure is an essential part of life and of learning. If your uniform isn’t dirty, you haven’t been in the game.

September and October of 2008 was the worst financial crisis in global history, including the Great Depression.

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.

Not responding is a response–we are equally responsible for what we don’t do. In the case of animal slaughter, to throw your hands in the air is to wrap your fingers around a knife handle.

I think India is very passionate about films. It’s almost a second religion back home. Due to that, I think film stars are – are really held in great esteem.

Our highest, most important duty in this world is to help our fellow beings.

Not that we’re complaining, but I think with that comes a lot of responsibility.

If you want children to keep their feet on the ground, put some responsibility on their shoulders.

It is not only for what we do that we are held responsible, but also for what we do not do.

While carrying responsibilities, never forget to smile.

But the revolutions and changes which are responsible for the present state of the earth are not limited to the upsetting of the ancient strata and to the ebbing of the sea after the formations of new layers.