“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.”

The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.

If I am confirmed, I am confident that my colleagues on the Federal Open Market Committee and I will maintain the focus on long-term price stability as monetary policy’s greatest contribution to general economic prosperity and maximum employment.

If you are asking me if I would advocate that the Chinese go to greater flexibility in their exchange rate, I certainly would.

I don’t fully understand movements in the gold price.

Under a cold turkey strategy, at each policy meeting the Federal Open Market Committee would make its best guess about where it ultimately wants the funds rate to be and would move to that rate in a single step.

A collapse in U.S. stock prices certainly would cause a lot of white knuckles on Wall Street. But what effect would it have on the broader U.S. economy? If Wall Street crashes, does Main Street follow? Not necessarily.

…the Federal Reserve has the capacity to operate in domestic money markets to maintain interest rates at a level consistent with our economic goals

How much would you pay to avoid a second Depression?

It’s true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles.

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.

Nobody really understands gold prices and I don’t pretend to understand them either.

The Fed is totally open.

I don’t think that Chinese ownership of U.S. assets is so large as to put our country at risk economically.

I am very proud of my nerd-dom.

The financial crisis appears to be mostly behind us, and the economy seems to have stabilized and is expanding again.

In the future, my communications with the public and with the markets will be entirely through regular and formal channels.

Players win games, and coaches win players.

No matter how much you’ve won, no matter how many games, no matter how many championships, no matter how many Super Bowls, you’re not winning now, so you stink.

The main thing is to care. Care very hard, even if it is only a game you are playing.

You can lead a team in a lot of different ways. It can be talking to somebody who is down or, during the course of a game, looking to penetrate and then dropping the ball off to someone else for an easy bucket.

Though it is a team game by definition, it is actually a series of loosely connected individual efforts.

I’ve had many skilful men and the likes of Peter Thompson, Ian St John, Kevin Keegan and Steve Heighway were the ones who caught the eye. But the best professional of the lot was Gerry Byrne.

Competition is healthy. It makes you work harder and strive for more and try to find that extra one or two percent in your game that you could possibly improve.

I have been received more warmly by Everton than I have by Liverpool. It is scandalous that I should have to write these things about the club that I helped build into what it is today.