The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.

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.

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

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

The economic repercussions of a stock market crash depend less on the severity of the crash itself than on the response of economic policymakers, particularly central bankers.

I am confident that we will meet whatever challenges the future may bring.

Nobody likes to fail but failure is an essential part of life and of learning. If your uniform isn't dirty, you haven't been in the game.