Book: The Courage To Act
When the economic well-being of their nation demanded a strong and creative response, my colleagues at the Federal Reserve, policymakers and staff alike, mustered the moral courage to do what was necessary, often in the face of bitter criticism and condemnation. I am grateful to all of them.
There is enormous demand for dollar denominated assets so I don't expect that this demand would drop precipitously.
The destruction wrought by Katrina and Rita may reduce growth somewhat in the short run, but the longer-term growth trajectory remains in place.
I see inflation as remaining well-contained going forward.
I assure this committee that, if I am confirmed, I will be strictly independent of all political influences.
Those high oil prices are a burden on U.S. families, on firms' production costs. But the good news is that at least so far the U.S. economy has not been slowed by the high energy prices.
If I am confirmed to this position, my first priority will be to maintain consistency and continuity with the policies established during the Greenspan years.
My first priority will be to maintain continuing with the policy and policy strategies under the Greenspan era.
Under Chairman Greenspan, monetary policy has become increasingly transparent to the public and the financial markets, a trend that I strongly support.
The contrast between the 1970's and today is very marked.
The greatest single cause of the fiscal surplus of the 1990s was the stock market bubble, which led to an unsustainably high level of economic activity and tax revenues.