“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 U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost.

I generally leave the details of fiscal programs to the Administration and Congress. That’s really their area of authority and responsibility, and I don’t think it’s appropriate for me to second guess.

One might as well try to perform brain surgery with a sledgehammer.

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.

…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?

Life should be black and white with no grey in between.

If you wear black socks with white shoes then we can’t be friends.

I am going to stop calling you a white man and I’m going to ask you to stop calling me a black man.

Black or white good parts are hard to come by. A good actor with a good opportunity has a shot; without the opportunity it doesn’t matter how good you are.

Bring the white space in your life, which you can now choose how to fill.

White is actually one of my favorite colors. I have a white car. I love white.

Every time I embrace a black woman I’m embracing slavery, and when I put my arms around a white woman, well, I’m hugging freedom.

It ain’t about black or white ‘cause we human.