The risk that the economy has entered a substantial downturn appears to have diminished over the past month or so.

...the Federal Reserve has the capacity to operate in domestic money markets to maintain interest rates at a level consistent with our economic goals

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.

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.

Monetary policy cannot do much about long-run growth, all we can try to do is to try to smooth out periods where the economy is depressed because of lack of demand

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

The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.