John B. Taylor: “If you bring them in, make them pay a fine, get a Visa, the ones who do not come in, those are the ones you need to…”

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 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.

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.

I just do what I believe. And I believe that strong-mayor powers, aside from everything else, are a significantly bad idea.