Richard Shelby actually said...

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

So talk to me about what needs to be done at the Fed and elsewhere to address long-term unemployment and to foster policies that transform e...

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

I think we all would accept the basic premise we want to build our own engine.