Most consequential choices involve shades of gray, and some fog is often useful in getting things done

As financial markets continue to broaden and deepen, the behavior of asset prices will play an important role in the formulation of monetary policy going forward, perhaps a more important role than in the past.

The choice is between which mistake is easier to correct: underdoing it or overdoing it.

Most consequential choices involve shades of gray, and some fog is often useful in getting things done

The government can help, but we need to make this transition now to a recovery led by private investment.

The recognition that things that are not sustainable will eventually come to an end does not give us much of a guide to whether the transition will be calm or exciting.

And I think it's a prudent, responsible way, given the scale of the emergency, the scale of the damage still facing America, that we finance these additional support for the unemployed as well as the support for small business. We think there's a good case for doing it now. We want to do it in an overall fiscally responsible way.