It must be awfully frustrating to get a small raise at work and then have it all eaten by a higher cost of commuting.

The risk exists that, with aggregate demand exhibiting considerable momentum, output could overshoot its sustainable path, leading ultimately in the absence of countervailing monetary policy action to further upward pressure on inflation.

The more guidance a central bank can provide the public about how policy is likely to evolve the greater the chance that market participants will make appropriate inferences.

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'd throw dollars out of helicopters if I had to, to stimulate the economy.

We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.

Both humanity's capacity to innovate and the incentives to innovate are greater today than at any other time in history.