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.

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

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

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

I am very proud of my nerd-dom.

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.

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