John B. Taylor: “This notion is absurd. We cannot simply wish our problems away.”

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.

Do you want to live on $7.25 an hour? Try that out.

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.

The connection between interest and money is a classic one.