The crisis and recession have led to very low interest rates, it is true, but these events have also destroyed jobs, hamstrung economic growth and led to sharp declines in the values of many homes and businesses.

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

A gold standard doesn't imply stability in the prices of the goods and services that people buy every day, it implies a stability in the price of gold itself.

How much would you pay to avoid a second Depression?

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

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

If I am confirmed, I am confident that my colleagues on the Federal Open Market Committee and I will maintain the focus on long-term price stability as monetary policy's greatest contribution to general economic prosperity and maximum employment.