The Risk That The Economy

Monetary Policy Cannot Do Much About Long-run Growth, All We Can Try To Do Is To Try To Smooth Out Periods Where The Economy Is Depressed Because Of Lack Of Demand

If I Am Confirmed, I Am Confident That My Colleagues On The Federal Open Market Committee And I Will Maintain The Focus On Long-term Price Stability As Monetary Policy's Greatest Contribution To General Economic Prosperity And Maximum Employment.

I And Others Were Mistaken Early On In Saying That The Subprime Crisis Would Be Contained. The Causal Relationship Between The Housing Problem And The Broad Financial System Was Very Complex And Difficult To Predict.

The Federal Reserve Is Not Currently Forecasting A Recession.

The Impact On The Broader Economy And Financial Markets Of The Problems In The Subprime Markets Seems Likely To Be Contained.