In terms of the overall economy, we've got challenges and the big focus has got to be on recovery, on repair, and that's going to take a while.

The worst is likely to be behind us.

A single agency responsible for systemic risk would be accountable in a way that no regulator was in the run-up to the 2008 crisis. With access to all necessary information to monitor the markets, this regulator would have a better chance of identifying and limiting the impact of future speculative bubbles.

I have relied on prayer for health care all of my life.

I don't think a bankruptcy is a good thing.

It's a safe banking system, a sound banking system. Our regulators are on top of it. This is a very manageable situation.

My preference is for the Federal Reserve to be the systemic risk regulator, because the responsibility for identifying and limiting potential problems is a natural complement to its role in monetary policy.