Richard Shelby actually said...

"Instead of working to strengthen our economy and to bolster the financial system safeguards, some Republicans want to unleash the forces that almost destroyed the economy in the first place."

"Madam Chair, we have talked about this privately before, but does the Fed still use the Phillips rule in a lot of its deliberations?"

"You want to strengthen it. Is that your basic premise?"

"I believe the Fed should be independent, but I do not think that you are totally independent."