John B. Taylor: “Many people for many years have shown that when monetary policy is conducted in a rule-like way, economic performance is…”

A lot of the concerns about too-big-to-fail and the anticipation of bailouts is that it does give advantages to certain institutions.

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 would characterize it as they held interest rates too low for too long in that period, and that caused excesses in the housing market.

I never imagined any of us would come back home to die directly related to post-combat medical care in our VA hospitals.