John B. Taylor: “Central-bank independence is very important, but it doesn't seem to have been enough to prevent these swings towards…”

I think it would be a mistake based on the knowledge we have now about how central banks work, and how economies work, to change the dual mandate even when we are in recovery, I think it is the responsible and right thing to do.

You don't increase taxes.

A lot of the concerns about too-big-to-fail and the anticipation of bailouts is that it does give advantages to certain institutions.

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