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.

It takes about two and a half percent growth just to keep unemployment stable.

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

Monetary policy is not a panacea.

Importantly, in the 1930s, in the Great Depression, the Federal Reserve, despite its mandate, was quite passive and, as a result, financial crisis became very severe, lasted essentially from 1929 to 1933.

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.

If you are not happy with yourself, even the loftiest achievements won't bring you much satisfaction.