“So it’s important, as it affects overall levels of production and employment in the U.S. There are many domestic industries doing well in the United States, notwithstanding a strong dollar.”

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.

While rising delinquencies and foreclosures will continue to weigh heavily on the housing market this year, it will not cripple the U.S.

It’s the price of success: people start to think you’re omnipotent.

Investment banks manage to go bankrupt through their investment-banking activities, commercial banks manage to go bankrupt through their commercial-banking activities.

Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past were wrong. About the future, not so much.

Rich people see every dollar as a “seed” that can be planted to earn a hundred more dollars, which can then be replanted to earn a thousand more dollars.

A fan sent me a letter and a $10 bill.

It’s a short letter – all she said was, ‘Hey, since it’s harder for you to go out these days without getting photographed, here $10 for a pizza.’ I was like, ‘Aww, she sent me money for a pizza so I could eat at home!’

My first assistant-coaching job in football was at William & Mary in 1961. The pay wasn’t much, so to get $300 more per year.

When I didn’t collect, the balance came out of my profit. My average income was six dollars a week.

My hats did give me an identity. In fact, if I had a dollar for every time someone has seen me bareheaded and said, ‘I almost didn’t recognize you without a hat on’, I could have bought the Cowboys myself.

I’ve tried to give a dollar and 25 cents in work for every dollar paid me.

I had a chance to win $2 million, a week after high school graduation, and if I turned pro, the sponsor was going to financially support me.