A money-financed tax cut is essentially equivalent to Milton Friedman's famous 'helicopter drop' of money.

One might as well try to perform brain surgery with a sledgehammer.

The central bank needs to be able to make policy without short term political concerns.

It must be awfully frustrating to get a small raise at work and then have it all eaten by a higher cost of commuting.

The GSEs are adequately capitalized. They are in no danger of failing.

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.

Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past were wrong. About the future, not so much.