I would just urge Congress to look carefully at what might be done. There are a lot of possibilities.

Greater scope for market forces to determine the value of the RMB would reduce an important distortion in the Chinese economy.

Fostering healthy job growth and job creation--economic growth and job creation is a shared responsibility of all economic policymakers in close cooperation with the private sector.

good for the Chinese to allow more flexibility in their exchange rate.

most economists agree that the Chinese currency is undervalued and has been used to promote a more export-oriented economy.

As I have said often before, I am in favor of the law of arithmetic.

I have great sympathy for you. These are very, very difficult problems. They involve very fundamental questions of what the government should do and how big it should be.

There is ample room for debate about the appropriate size and role for the government in the longer term, but--in the absence of adequate demand from the private sector--a substantial fiscal consolidation in the shorter term could add to…

For our part, we at the Federal Reserve will continue to work to help create an environment that provides the greatest possible economic opportunity for all Americans.

Fiscal policy is of critical importance, as I have noted today, but a wide range of other policies--pertaining to labor markets, housing, trade, taxation, and regulation, for example--also have important roles to play.

Monetary policy can be a powerful tool, but it is not a panacea for the problems currently facing the U.S. economy.

we should continue to press for a more flexible exchange rate.

I disagree. With so many Americans out of work, and with GDP growth having slowed to less than half of one percent annual rate in the first half of this year, additional actions are needed to strengthen the economy.

You can take policy actions which are supportive of recovery, and that would involve perhaps not doing sharp near-term cuts.

But if we stop someone through normal law enforcement and we realize that they are here overstaying their visa, they are here illegally, they can't prove that they are here on a legal status, we have got that person. Why are we choosing…

Mr. President, I rise to speak on two topics, briefly, the nomination of Judge Henry Floyd for the Fourth Circuit Court of Appeals, and the motion to proceed on China's currency. First, Judge Henry Floyd has been nominated by President…

This might be the last question of the day, so I appreciate you bearing with us.

I want to thank the panelists for being here and for your service to our nation in your various capacity.