“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”

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.

I don’t see much evidence of an equity bubble.

Education – lifelong education for everyone – from toddlers to workers well advanced in their careers – is indeed an excellent investment for individuals and society as a whole.

I saw this French woman, this English man in Italy. It was a film [Certified Copy] I knew well, but I had already seen it, and I was familiar with it, and I had no feeling of anxiety or responsibility toward it.

And it’s about time that officials take their responsibility and are responsible in front of the people. Because today, if you’re appointed by the king, they don’t feel that they’re responsible for the people.

It’s a tremendous responsibility to be direct descendants of the prophet Muhammad. This family has had the burden of leadership on its shoulders for 1,400 years. I’m not going to drop the ball on my shift.

Those who have not sown anything during their responsible life will have nothing to reap in the future.

The life of action need not be renounced. If you meditate for an hour or two every day you can then carry on with your duties. If you meditate in the right manner then the current of mind induced will continue to flow even in the midst of your work.

Your duty is to be, and not to be this or that. I Am That I Am sums up the whole truth; the method is summarized in Be Still.

As long as I take the responsibility of the choice, I have to make the choice that is as right as possible.

That’s the biggest problem existing in this country! People are always mixing up the word free and freedom. Free is something you get for nothin.’ Freedom is a responsibility.