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

We’ve never had a decline in house prices on a nationwide basis. So, what I think what is more likely is that house prices will slow, maybe stabilize, might slow consumption spending a bit. I don’t think it’s going to drive the economy too far from its full employment path, though.

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

The amount of currency in circulation is not changing. The money supply is not changing in any significant way.

If Wall Street crashes, does Main Street follow? Not necessarily.

In fact, the world needs more nerds.

Although low inflation is generally good, inflation that is too low can pose risks to the economy – especially when the economy is struggling.

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.

If you spend 10,000 hours on the bunny slope, you’re never going to win the World Cup.

To me, it’s all about inspiration. What gets me creatively excited is a challenge.

The ultimate is not to win, but to reach within the depths of your capabilities and to compete against yourself.

You work for it. You don’t have to massage it, so that it fits into the way it has to be. He’s just too vigorous a writer and the dialogue is too sparking to do anything other than inhabit it and give it as much truth as you can.

One of the big challenges for our party is to demonstrate to people that we have an agenda for economic prosperity and that we can be trusted with their money.

At times you have to fight. No way around it. At some point, every one of us is confronted with danger or injustice.

An obvious fact about negative feelings is often overlooked. They are caused by us, not by exterior happenings. An outside event presents the challenge, but we react to it. So we must attend to the way we take things, not to the things themselves.

It would appear that, on the level of individual nations and of international relations, the free market is the most efficient instrument for utilizing resources and effectively responding to needs.