Under current law, on January 1, 2013, there's going to be a massive fiscal cliff of large spending cuts and tax increases.

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.

Developments in financial markets can have broad economic effects felt by many outside the markets.

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

Investment banks manage to go bankrupt through their investment-banking activities, commercial banks manage to go bankrupt through their commercial-banking activities.

Monetary policy is not a panacea.

In fact, the world needs more nerds.