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 crisis in Europe has affected the US economy by acting as a drag on our exports, weighing on business and consumer confidence and pressuring US financial markets and institutions.

In the future, my communications with the public and with the markets will be entirely through regular and formal channels.

If you are not happy with yourself, even the loftiest achievements won't bring you much satisfaction.

...the Federal Reserve has the capacity to operate in domestic money markets to maintain interest rates at a level consistent with our economic goals

Under current law, on January 1, 2013, there's going to be a massive fiscal cliff of large spending cuts and tax increases.

I am very proud of my nerd-dom.