“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.”

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

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.

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.

Its unlikely hero, Garrett Reilly, reminded me of a young Jack Reacher as a tech-sa What I said: “Political thriller? International thriller? Financial thriller? Whatever you call it,

The only job they had, which is to give accurate, objective ratings to financial products.

There are at least 44 million unbanked or underbanked people in the United States, so clearly financial inclusion is needed in all markets.

A musical profit outweighs a financial loss.

It’s financial of course, but it’s also the lifestyle choices. The more money people have the further away from each other they often want to be.

They have financial fluidity and options at their disposal.

The financial wealth that has been created is unprecedented.

I’ll take a break for a couple weeks for a project that is paying me money like a television project which I try to stay away from just to stay financially ahead of the game.