"Monetary policy acts with a lag. I liken it to a good single malt whiskey or perhaps truly great tequila: It takes time before you feel its full effect. The Fed has to be very careful now to add just the right amount of stimulus to the punchbowl without mixing in the potential to juice up...

Remarks at the HSBC Global Investment Seminar, London, October 10, 2006. ; "My point is simply that the committee's wisdom would be enhanced, and the economy would benefit, from having analytical tools to help us build more practicable models than what we currently have to guide our thinking as...

"Monetary policy acts with a lag. I liken it to a good single malt whiskey or perhaps truly great tequila: It takes time before you feel its full effect. The Fed has to be very careful now to add just the right amount of stimulus to the punchbowl without mixing in the potential to juice up...

Remarks at the HSBC Global Investment Seminar, London, October 10, 2006. ; "My point is simply that the committee's wisdom would be enhanced, and the economy would benefit, from having analytical tools to help us build more practicable models than what we currently have to guide our thinking as...

Remarks before New Mexico State University's Spring 2011 Domenici Institute Forum, Las Cruces, New Mexico, May 4, 2011 ; I will keep my comments as brief as possible this afternoon so as to leave ample time for Q&A. I want to first provide the précis of the analysis of the nation’s economy...

Remarks before the Texas A&M Retailing Summit, Dallas, Texas, October 7, 2011 ; "We have filled the gas tanks of the economy with affordable liquidity. What is needed now is for employers to confidently step on the pedal and engage the transmission that will use that fuel to move the great...

Remarks before the Dallas Regional Chamber of Commerce, Dallas, TX, March 5, 2012 ; "I would suggest to you that, if the data continue to improve, however gradually, the markets should begin preparing themselves for the good Dr. Fed to wean them from their dependency rather than administer...

Remarks before the Headliners Club, Austin, TX, February 2, 2012 ; "Explicitly acknowledging that monetary policy’s impact on employment is transitory and uncertain is a cardinal event. It signals to the markets that there are limits to the ultimate job-stoking efficacy of Federal Reserve...

Remarks before the Association for Financial Professionals, San Antonio, Texas, November 8, 2010 ; "In sum, I asked that the FOMC consider that we might be prescribing the wrong medicine for the ailment from which our economy is suffering. Liquidity and abundant money are not the binding...

Austin, Texas, February 27, 2007 ; "Last year, employment grew twice as fast in Texas as it did in the rest of the United States. Construction payrolls grew at five times the U.S. rate. We added 26,000 net new factory jobs in 2006, while the nation's manufacturers posted an overall loss of...