John B. Taylor: “I really think the independence of the Federal Reserve has been very important and why we have basically had good policy…”

I believe that the quantitative easing that really got underway after the panic in 2009 has not been effective.

I think it is very important to do something directly about the too-big-to-fail problem.

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.

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.