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

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.

While rising delinquencies and foreclosures will continue to weigh heavily on the housing market this year, it will not cripple the U.S.

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

It is not the responsibility of the Federal Bank - nor would it be appropriate - to protect lenders and investors from the consequences of their decisions

Economics is a very difficult subject. I've compared it to trying to learn how to repair a car when the engine is running.

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