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.

I and others were mistaken early on in saying that the subprime crisis would be contained. The causal relationship between the housing problem and the broad financial system was very complex and difficult to predict.

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.

The amount of currency in circulation is not changing. The money supply is not changing in any significant way.

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

The Federal Reserve will not monetize the debt.

It's the price of success: people start to think you're omnipotent.