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

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

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

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

Indeed, in general, healthy investment returns cannot be sustained in a weak economy, and of course it is difficult to save for retirement or other goals without the income from a job.

It's the price of success: people start to think you're omnipotent.

The Fed is totally open.