I think oil prices could be affected. I think that is a big concern in Europe, for example.
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I think the costs of failure to restore price stability would be extremely high, and while there will be a cost to success, the cost of failure will be much higher.
I am worried about a lot of these stablecoins and other cryptocurrencies. Do they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?
What FedNow will do is it will enable all of the banks, any bank in the United States, not just the big ones, to offer instantly-available funds and real-time payments to their customers.
What needs to change is we need to get inflation under control so that interest rates can come back down.
We are going to guard that border carefully, and we are going to stick to our role and not try to be policymakers.
No, I think there are limits built into the law, which I don't have in front of me right now.
No, we don't borrow money. We don't shut down the Fed when we have negative income.
We always turn over all of our earnings in every year.
We are required by the law now and we are doing this. Dodd-Frank actually required us.
We believe strongly, and always have, in tailoring to address the different size and risk characteristics of financial institutions.
But the Biden Administration's swift action revealed a key lesson about how to achieve energy independence. It is just not the lesson my Republican colleagues think.
Let me just say it is not surprising that during the Trump Administration my Republican colleagues had no problem with President Trump's authorizing releases from the Strategic Petroleum Reserve in response to an attack on oil refineries…
Investing in clean energy is a matter of good business and common sense.
We can never drill enough to insulate ourselves from Russian invasions, of Saudi production cuts.
I feel strongly that climate change is an important issue that needs to be addressed by elected people.
We are not and will not be a climate policymaker.