John B. Taylor: “These are not elected people. They're not accountable to anyone who is elected really, at the end of the day.”

You don't increase taxes.

Many people for many years have shown that when monetary policy is conducted in a rule-like way, economic performance is better.

I have always believed, along with he and a large number of other economists, that it is right for elected officials to set the goals, and it is wrong for elected officials to interfere with the instruments.

This notion is absurd. We cannot simply wish our problems away.