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.

In the future, my communications with the public and with the markets will be entirely through regular and formal channels.

I come from Main Street, from a small town that's really depressed.

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

Our mission, as set forth by the Congress is a critical one: to preserve price stability, to foster maximum sustainable growth in output and employment, and to promote a stable and efficient financial system that serves all Americans well and fairly.

Although low inflation is generally good, inflation that is too low can pose risks to the economy - especially when the economy is struggling.

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