Obviously, as Senator Shelby has pointed out, it is important for us to get back to a more normal size of our balance sheet.
It is a substantial improvement.
It would be an extremely dangerous and very likely recovery-ending event.
the need to think about the budget issue not as a current year issue
the long-term imbalances are not just a long-term risk. They are a near and present danger.
What I need to emphasize here is that that does not mean that QE will continue until 2017 or easy money will continue until 2017.
We have rejected that approach and we are committed to not letting inflation go above sort of the normal level of around 2 percent in the me...
If you do not do that, it would have very negative effects on financial markets and on our economy.
We want to be sure that price stability is maintained, that inflation remains low and stable.
The recession was tied primarily to the financial crisis, which drove the economy into a deep recession.
I do not believe that there is a dangerous bubble in U.S. financial markets.