We have articulated in a clear statement what our objectives are: 2 percent inflation and our interpretation of maximum employment.
So we are seeing a recovery, I would say, in housing. It has gone on now for a number of years, but it is very, very gradual.
It is essentially a theory that fits reasonably, but certainly not perfect, explaining the inflation process.
we are committed to a formal rulemaking process in the development of a domestic insurance capital standard.
I am certainly willing to work with you on that, but as your comment indicated, you recognize the importance of independence for regulatory ...
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.
The level of new construction of residential investment remains quite low relative to underlying demographic trends.
We only want to move to more normal levels of interest rates if it is consistent with achieving our objectives of 2 percent inflation and ma...
I recognize that regulatory burden is a significant issue for many banks.