the Federal Reserve's job is to try to achieve maximum employment and broad gains in the labor market that are as widely distributed as possible.

I said that we were monitoring it and that it could have consequences with the United States.

the outlook for the U.S. economy is favorable, its biggest threat is a weak global economy dragging down manufacturing and net exports.

House prices are recovering. They have increased quite a bit, and I think that is helping the financial situation of many households.

these standards, which changed little since the draft was released a few years prior, unfortunately fall short of what is necessary to achieve real progress.

Senator, yes, I agree with what you said.

I think we cannot be satisfied that we have full employment without full employment across demographic lines, meaning women and minorities, especially.

job creation has perhaps been more heavily skewed toward sectors that have lower pay

I want to be careful. I think that Governors certainly are entitled--they have substantial responsibilities.

On balance, I would say it is still true for the United States.

Monetary policy will be set and calibrated to do the best we can to achieve our congressionally mandated objectives.