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

The central bank needs to be able to make policy without short term political concerns.

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.

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.

Money, financial matters were to help people, to help them survive, not to have a bigger house or a bigger car and that sort of thing, because I hear that from so many kids, they often don’t know why their father won’t spend more time with them.

I can tell you about health care and also about the financial reform bill. The Barack Obama, the President personally and his administration officials at his direction were very much involved.

Theirs is an endless road, a hopeless maze, who seek for goods before they seek for God.

The money cost of the reservoir plan literally fades into insignificance when it is compared with the financial burden which the great depression imposed on the nation.

The best way to measure your investing success is not by whether you’re beating the market but by whether you’ve put in place a financial plan and a behavioral discipline that are likely to get you where you want to go.

Physical pain is a fact that comes with living, just as illness or financial woes or broken relationships are facts. But misery is a state of mind, a reaction to the facts, that can be controlled or altered by an act of will.

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

I and others were mistaken early on in saying that the subprime crisis would be contained. The causal relationship between the housing problem and the broad financial system was very complex and difficult to predict.