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

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.

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.

1000 percent or more of GDP, so that every economy starts to have financial systems that resemble recent cases like Switzerland, Ireland, Iceland, or Cyprus. That might be a very fragile world to live in.

It is by a wise economy of nature that those who suffer without change, and whom no one can help, become uninteresting. Yet so it may happen that those who need sympathy the most often attract it the least.

Whatever you tax you get less of.

Need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path.

The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses…

We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.

To tax the larger incomes at a higher percentage than the smaller, is to lay a tax on industry and economy; to impose a penalty on people for having worked harder and saved more than their neighbors.

Given our inevitably incomplete knowledge about key structural aspects of our ever-changing economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank.