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The Federal Reserve is not currently forecasting a recession.

Ben Bernanke

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I don't see much evidence of an equity bubble.

Indeed, in general, healthy investment returns cannot be sustained in a weak economy, and of course it is difficult to save for retirement or other goals without the income from a job.

Education - lifelong education for everyone - from toddlers to workers well advanced in their careers - is indeed an excellent investment for individuals and society as a whole.

Under a cold turkey strategy, at each policy meeting the Federal Open Market Committee would make its best guess about where it ultimately wants the funds rate to be and would move to that rate in a single step.

It's true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles.

If you are asking me if I would advocate that the Chinese go to greater flexibility in their exchange rate, I certainly would.

It takes about two and a half percent growth just to keep unemployment stable.

The financial crisis appears to be mostly behind us, and the economy seems to have stabilized and is expanding again.

The Federal Reserve will not monetize the debt.

To avoid large and unsustainable budget deficits, the nation will ultimately have to choose among higher taxes, modifications to entitlement programs such as Social Security and Medicare, less spending on everything else from education to defense, or some combination of the above.

Economics is a very difficult subject. I've compared it to trying to learn how to repair a car when the engine is running.

Among the largest banks, the capital ratios remain good and I don’t expect any serious problems . . . . among the large, internationally active banks that make up a very substantial part of our banking system.

I don't think that Chinese ownership of U.S. assets is so large as to put our country at risk economically.

The sources of deflation are not a mystery. Deflation is in almost all cases a side effect of a collapse of aggregate demand.. a drop in spending so severe that producers must cut prices on an ongoing basis in order to find buyers.

Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past were wrong. About the future, not so much.