If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.

In fact, the world needs more nerds.

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

The Fed is totally open.

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

I am confident that we will meet whatever challenges the future may bring.

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.