Greater scope for market forces to determine the value of the RMB would reduce an important distortion in the Chinese economy.

I think we need to have open and fair trade.

You can take policy actions which are supportive of recovery, and that would involve perhaps not doing sharp near-term cuts.

Fostering healthy job growth and job creation--economic growth and job creation is a shared responsibility of all economic policymakers in close cooperation with the private sector.

I think that would create some certainty and maybe would allow some of the private sector securitization activities to resume.

We have a serious issue with distribution of wealth in this country, and that really needs to be addressed.

For our part, we at the Federal Reserve will continue to work to help create an environment that provides the greatest possible economic opportunity for all Americans.

The working and middle class are the drivers of the economy of this country.

Along the lines that Simpson-Bowles talked about.

If those margin rules for foreign operations are maintained and Europeans and other foreign jurisdictions do not match it, that would be a significant competitive disadvantage.

The main issues here are that we are going to have much tighter oversight and prudential regulations over so-called SIFIs.

So this is a matter of arithmetic. Fairly soon after that date there would have to be significant cuts in Social Security, Medicare, military pay, or some combination of those in order to avoid borrowing more money.

So just as a matter of arithmetic, fairly soon after that date there would have to be significant cuts in Social Security, Medicare, military pay or some combination of those in order to avoid borrowing more money.

You need more people to carry out more regulations, write more regulations, and to do just in general a better job of overseeing private sector activity.

Since the enactment of the Dodd-Frank Act, the Federal Reserve, both independently and in conjunction with other agencies, has made considerable progress toward adopting regulations designed to promote financial market stability…

In order to get rid of too-big-to-fail, we have to have 'fail.' We have to have a way for the biggest firms actually to fail.

Senator, you are absolutely right.

It would be a self-inflicted wound, I would say.

Extended unemployment insurance benefits provided during the economic downturn have fostered economic stability.

I think it is really a political issue as much as an economic issue.

I agree with your characterization. It is just very poor business, very poor practices in terms of making sure that consumers were contacted, that they were appropriately treated, that all the legalities were observed, et cetera.

I think it would be a calamitous outcome. It would create a very severe financial shock that would have effects not only to the U.S. economy, but on the global economy.

Well, my first best is that the debt limit gets increased promptly and that we have a real solution for our longer-term fiscal problems.

I would urge Congress to take every step possible to avoid defaulting on the debt or creating even any significant probability of defaulting on the debt.

The Federal Reserve together with other agencies has imposed an order on the servicers to fix up their act and to go back and look at every foreclosure going back for some number of years and to compensate anybody who was injured by their…