The failure to ensure the independence of these functions from the revenue generators and risk takers has been shown to be dangerous, and this is something for which the board is accountable.

It is actually really important that we achieve our 2 percent target because our credibility is important on that front.

the very low settings of interest rates that were appropriate during the crisis and after to support economic activity are no longer appropriate.

I expect inflation to move higher next year.

I would echo what Pope Francis said in exhorting his parish priests soon after he assumed the papacy.

I intend to preserve the Federal Reserve's independence, which I see as essential for us to achieve our congressionally mandated goals.

There is no indication in wages that the labor market is overheating or even hot.

Full employment is not sort of a precise concept in our thinking, in my thinking, and I think a number of indicators would suggest that we are at or around full employment.

Yes, of course. We are very focused on pockets of people and different pockets of people for whom the recovery is not real yet.

We do not have a lot of tools to address the income inequality.

I think we make better decisions when we have diverse voices around the table.

allow boards of directors and management to spend a smaller portion of their time on technical compliance exercises and more time focusing on the activities that support sustainable economic growth.