John B. Taylor: “I think we should reform the Fed. I think the evidence, especially in the last few years, is that the policy is not…”

I think the more transparent the Fed can be with respect to its strategy or its operations, the less chance there is for such leaking.

This discussion about cost-benefit analysis is amazing to me. It is sort of the basic thing you teach students about government policy.

I think higher capital requirements are a way to get at this problem, and it may be the easiest way.

I think we learned so much about what worked in monetary policy in the 1980s and 1990s until recently, so go back to that general style of policy as soon as possible.