"Low interest rates harm savers; it is absolutely true."
"I think it is important for Congress to recognize that as the economy recovers and both short- and long-term rates move up, a situation in which the Government's funding costs remain as low as they ar..."
"I would argue that we cannot have normal rates unless the economy is normal."
"I agree that fiscal policy has been working at cross purposes to monetary policy."
"We have had widening wage inequality and income inequality in this country going back to the mid- to late-1980s, and that continues."
"Thank you for this opportunity to appear before you today."
"While many of us believe that the Dodd-Frank Act already gives the Federal Reserve the authority to distinguish between insurance companies and banks when promulgating capital standards under the Coll..."
"Now, the Fed contends that its policy of quantitative easing does not present a serious inflation risk."
"Americans can be confident that the FOMC has both the ability and the will to prevent inflation."
"Was there any task more important for the Fed since the 1930s than understanding the financial system?"
"I sent a letter along with Sen. Johanns in July of 2012 to President Obama calling attention to this statutory requirement."
"We have learned a harsh lesson about the dire consequences a financial crisis has for ordinary Americans in the form of lost jobs, lost homes, lost wealth, and lost businesses."