If two people always agree, one of them is redundant.
The banks have accounts with the Fed, much the same way that you have an account in a commercial bank.
Monetary policy is not a panacea.
The world has a great deal more to offer than money.
When the economic well-being of their nation demanded a strong and creative response, my colleagues at the Federal Reserve... mustered the moral courage to do what was necessary.
My proposal that Fed governors should signal their commitment to public service by wearing Hawaiian shirts and Bermuda shorts has so far gone unheeded.
The one thing people don't appreciate, I think, is that central banking is not a new development. It's been around for a very long time.
The Libor system is structurally flawed. It is a major problem for our financial system and for the confidence in the financial system. We need to address it.
In a slow-growing world that is short on aggregate demand, Germany's trade surplus is a problem.
I and others were mistaken early on in saying that the subprime crisis would be contained. The causal relationship between the housing problem and the broad financial system was very complex and difficult to predict.
Well, optimism's a good thing. It - makes people go out and - you know, start businesses and spend and do whatever is necessary to get the economy going.
The movement toward a holistic approach to community development has been long in the making, but the housing crisis has motivated further progress.
Neighborhoods and communities are complex organisms that will be resilient only if they are healthy along a number of interrelated dimensions, much as a human body cannot be healthy without adequate air, water, rest, and food.
The financial crisis that began in the summer of 2007 was an extraordinarily complex event with multiple causes.
Stronger regulation and supervision aimed at problems with underwriting practices and lenders' risk management would have been a more effective and surgical approach to constraining the housing bubble than a general increase in interest rates.