Achieving price stability is not only important in itself, it is also central to attaining the Federal Reserve's other mandate objectives of maximum sustainable employment and moderate long-term interest rates.

The more guidance a central bank can provide the public about how policy is likely to evolve the greater the chance that market participants will make appropriate inferences.

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

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

Nobody really understands gold prices and I don't pretend to understand them either.

Weaker currencies abroad mean a strong dollar, and a stronger dollar, together with a weak global environment, is a drag on the U.S. economy. So it's important, as it affects overall levels of production and employment in the U.S. There are many domestic industries doing well in the United States, notwithstanding a strong dollar.

It takes about two and a half percent growth just to keep unemployment stable.