Comments to the Harvard Club of New York City on monetary policy (with reference to Tommy Tune, Nicole Parent, the FOMC, Velcro, drunken sailors and Congress)
Remarks before the Harvard Club of New York City, New York, N.Y., September 19, 2012 ; "One of the most important lessons learned during the economic recovery is that there is a limit to what monetary policy alone can achieve. The responsibility for stimulating economic growth must be shared with fiscal policy."
Observations on the U.S. economy: need the Fed do more? (with reference to Elvis Costello, Clarence Day, Narayana Kocherlakota and Bernard Baruch)
Remarks before the Vancouver Board of Trade, Vancouver, British Columbia, October 1, 2010 ; "Without exception, all the business leaders I interview cite nonmonetary factors--fiscal policy and regulatory constraints or, worse, uncertainty going forward--and better opportunities for earning a return on investment elsewhere as inhibiting their willingness to commit to expansion in the U.S."
A discussion of economic condition and Federal Reserve policy
Remarks before the University of Houston, November 18, 2015.
Paradise Lost: addressing \\"Too big to fail\\" (with reference to John Milton and Irving Kristol)
"In the words of Milton, I would say that regulation should be designed to enable financial institutions to be 'sufficient to have stood, though free to fall.'" ; Remarks before the Cato Institute's 27th Annual Monetary Conference, Washington, D.C., November 19, 2009
Responding to turbulence (with reference to Bob Dylan, Alan Brooke, Washington Irving, Anna Fisher and Marcus Nadler)
"The problem that has been ailing capital markets and, by extension, the economy has not been the fed funds rate. It has been and remains risk aversion and uncertainty about counterparty risk and capital adequacy." ; Remarks before the Money Marketeers of New York University, New York City, September 25, 2008.
The limits of monetary policy: 'Monetary policy responsibility cannot substitute for government irresponsibility'
Remarks before a luncheon meeting of the Manhattan Institute and e21, New York City, January 12, 2011 ; "The key to correcting the underperformance of the American economy and American job creation does not rest with the Federal Reserve. It is in the hands of those who make fiscal and regulatory policy."
Rangers, Yankees, and Federal Open Market Committee: One game at a time
Remarks before the New York Association for Business Economics, New York, N.Y., October 19, 2010 ; "So. what will we likely decide at the next FOMC meeting? As with the American League championship, you'll find out when it's over and only then."
R.I.P. QE3...or will it? (with reference to Shakespeare, Betsy Duke, Janet Yellen, Yogi Berra and Lenny Kravitz)
Remarks before the Shadow Open Market Committee Manhattan Institute, New York City, November 3, 2014.
Excerpts from \\"Comments on the current financial crisis\\"
Remarks before the Ninth Annual R.I.S.E. (Redefining Investment Strategy Education) Forum Dayton, Ohio, March 26, 2009 ; "Here is a take-home quote from Charles Mackay's classic tome "Extraordinary Popular Delusions and the Madness of Crowds", written in 1841: 'Men think in herds...[and] they go mad in herds.' Just as the astute investor should have resisted joining the thundering herd's mad euphoria, I suggest you resist joining in the current stampede of despair."
Asia, trade deficits, and the health of the U.S. economy
Remarks before the Greater Dallas Asian American Chamber of Commerce, Dallas, Texas, February 23, 2006 ; "As long as the Federal Reserve does its job of holding inflation at bay, and as long as our political leaders resist protectionism and let the private sector get on with its work, we will remain the world's predominant economic machine.">