Over the years, the U.S. economy has shown a remarkable ability to absorb shocks of all kinds, to recover, and to continue to grow. Flexible and efficient markets for labor and capital, an entrepreneurial tradition, and a general willingness to tolerate and even embrace technological and economic change all contribute to this resiliency.

Given the central role of effective, firmwide risk management in maintaining strong financial institutions, it is clear that supervisors must redouble their efforts to help organizations improve their risk-management practices...We are also considering the need for additional or revised supervisory guidance regarding various aspects of risk management, including further emphasis on the need for an enterprise-wide perspective when assessing risk.

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

It must be awfully frustrating to get a small raise at work and then have it all eaten by a higher cost of commuting.

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

The Federal Reserve will not monetize the debt.

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