If it were possible to take interest rates into negative territory I would be voting for that.

It slightly worries me that when people find a problem, they rush to judgment of what to do.

To me, a wise and humane policy is occasionally to let inflation rise even when inflation is running above target.

Listening to others, especially those with whom we disagree, tests our own ideas and beliefs. It forces us to recognize, with humility, that we don't have a monopoly on the truth.

If it were possible to take interest rates into negative territory I would be voting for that.

Productivity growth, however it occurs, has a disruptive side to it. In the short term, most things that contribute to productivity growth are very painful.

My bottom line is that monetary policy should react to rising prices for houses or other assets only insofar as they affect the central bank's goal variables - output, employment, and inflation.