“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.

The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.

We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.

I served seven years as the chair of the Princeton economics department where I had responsibility for major policy decisions, such as whether to serve bagels or doughnuts at the department coffee hour.

[Virtual Currencies] may hold long-term promise, particularly if the innovations Promote a faster, more secure and more efficient payment system.

Monetary policy cannot do much about long-run growth, all we can try to do is to try to smooth out periods where the economy is depressed because of lack of demand

Importantly, in the 1930s, in the Great Depression, the Federal Reserve, despite its mandate, was quite passive and, as a result, financial crisis became very severe, lasted essentially from 1929 to 1933.

The GSEs are adequately capitalized. They are in no danger of failing.

Speaking as somebody who has been happily married for 35 years, I can’t imagine any choice more consequential for a lifelong journey than the choice of a traveling companion.

Weaker currencies abroad mean a strong dollar, and a stronger dollar, together with a weak global environment, is a drag on the U.S. econom.

If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.

If your uniform isn’t dirty, you haven’t been in the game.

I assure this committee that, if I am confirmed, I will be strictly independent of all political influences… essential to that institution’s ability to function effectively and achieve its mandated objectives.

Life is amazingly unpredictable; any 22-year-old who thinks they know where they will be in 10 years, much less in 30, is simply lacking imagination.

I am confident that we will meet whatever challenges the future may bring.

The crisis in Europe has affected the US economy by acting as a drag on our exports, weighing on business and consumer confidence and pressuring US financial markets and institutions.

A certain amount of contempt for the material employed to express an idea is indispensable to the purest realization of this idea.

Asceticism is the trifling of an enthusiast with his power, a puerile coquetting with his selfishness or his vanity, in the absence of any sufficiently great object to employ the first or overcome the last.

This idea that the employment of women, the movement of women outside the home into the work world, and their demand for equality is somehow responsible for increasing juvenile delinquency or the increase in divorce rate, is just so much bullshit.

If God himself was not willing to use coercion to force man to accept certain religious views, man, uninspired and liable to error, ought not to use the means that Jehovah would not employ.

Hundreds of millions of human beings on our planet increasingly suffer from unemployment, poverty, hunger, and the destruction of their families.

No country, however rich, can afford the waste of its human resources. Demoralization caused by vast unemployment is our greatest extravagance. Morally, it is the greatest menace to our social order.

See yourself as self employed.

If we want to invest in the prosperity of our nation, we must invest in the education of our children so that their talents may be fully employed.