The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.

If current trends continue, the typical U.S. worker will be considerably more productive several decades from now. Thus, one might argue that letting future generations bear the burden of population aging is appropriate, as they will likely be richer than we are even taking that burden into account.

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

Both humanity's capacity to innovate and the incentives to innovate are greater today than at any other time in history.

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.

Monetary policy is not a panacea.

If your uniform isn't dirty, you haven't been in the game.