Importantly, in the 1930s, in the Great Depression, the Federal Reserve, despite its mandate, was quite passive and, as a result, financial crisis became very severe, lasted essentially from 1929 to 1933.

The people who best use their advantages, or overcome adversity, and work honestly are those most worthy of admiration.

[Virtual Currencies] may hold long-term promise, particularly if the innovations Promote a faster, more secure and more efficient payment system.

The impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained.

I assure this committee that, if I am confirmed, I will be strictly independent of all political influences... essential to that institution's ability to function effectively and achieve its mandated objectives.

I don't see much evidence of an equity bubble.

The more important reason is that the research itself provides an important long-run perspective on the issues that we face on a day-to-day basis.