John B. Taylor: “I also think the provisions in the Sound Dollar Act to restrict the kinds of assets the Fed purchases are warranted.”

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.

I have become critical of the Federal Reserve policy regarding its unconventional policies, both before the crisis and after.

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

The Congress, through the Banking Committee and the Financial Services Committee, is in a good position--in fact, it is a unique position in our Government--to oversee monetary policy in a strategic sense, not in a tactical sense.