Our mission, as set forth by the Congress is a critical one: to preserve price stability, to foster maximum sustainable growth in output and employment, and to promote a stable and efficient financial system that serves all Americans well and fairly.

The sources of deflation are not a mystery. Deflation is in almost all cases a side effect of a collapse of aggregate demand.. a drop in spending so severe that producers must cut prices on an ongoing basis in order to find buyers.

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

The American people are among the most productive in the world. We have the best technologies. We have - great universities. We have entrepreneurs.

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

I generally leave the details of fiscal programs to the Administration and Congress. That's really their area of authority and responsibility, and I don't think it's appropriate for me to second guess.

The economic repercussions of a stock market crash depend less on the severity of the crash itself than on the response of economic policymakers, particularly central bankers.