“The more guidance a central bank can provide the public about how policy is likely to evolve the greater the chance that market participants will make appropriate inferences.”

“Many foreclosed homes are neglected or abandoned, as legal proceedings or other factors delay their resale. Deteriorating or vacant properties can, in turn, directly affect the quality of life in a neighborhood, for example, by leading to increases in vandalism or crime.”

“It's the price of success: people start to think you're omnipotent.”

“If you're in a car crash, you're mostly involved in trying to not go off the bridge, and later on you say, 'Oh my God!'”

“Because financially capable consumers ultimately contribute to a stable economic and financial system as well as improve their own financial situations, it's clear that the Federal Reserve has a significant stake in financial education.”

“Smart financial planning - such as budgeting, saving for emergencies, and preparing for retirement - can help households enjoy better lives while weathering financial shocks. Financial education can play a key role in getting to these outcomes.”

“Economic engineering is about the design and analysis of frameworks for achieving specific economic objectives.”

“Because a person has to be either working or looking for work to be counted as part of the labor force, an increase in the number of people too discouraged to continue their search for work would reduce the unemployment rate, all else being equal - but not for a positive reason.”

“When the economic well-being of their nation demanded a strong and creative response, my colleagues at the Federal Reserve... mustered the moral courage to do what was necessary.”

“I am particularly pleased to see that the Bendheim Center for Finance is thriving.”

“Economics has many substantive areas of knowledge where there is agreement, but also contains areas of controversy. That's inescapable.”