The Current State of the U.S. Economy and the Fed’s Response (With Reference to Irrational Exuberance and Virgil’s Aeneid)
Remarks before the Texas Cattle Feeders Association
Grapevine, Texas
November 4, 2008
"Despite the efforts of the Fed, the hope that comes with a new presidency, and what will hopefully be responsible and carefully calibrated fiscal initiatives for the Congress, I believe we have an epic challenge ahead of us. We are navigating the mother of all financial storms. We will certainly come out of it with a lesser number of ships than we entered it with, for we cannot and should not 'relieve the rashness of distress that financiers' and other imprudent decisionmakers 'have brought upon themselves.'”

Addressing a Credit Crisis
Remarks before the International Institute of Finance Annual Membership Meeting
Washington, D.C.
October 12, 2008

Responding to Turbulence (With Reference to Bob Dylan, Alan Brooke, Washington Irving, Anna Fisher and Marcus Nadler)
Remarks before the Money Marketeers of New York University
New York City
September 25, 2008

Economic Challenges
Remarks before the Greater Houston Partnership
Houston, Texas
September 4, 2008
"While it seems pretty clear that economic momentum is slowing, the jury is out on whether lesser momentum will be sufficient to translate into relief on the price front over the intermediate to longer term. In East Texas parlance, 'It might could but it mightn’t'; it most definitely has not thus far."

Monetary Policy in Uncertain Times (With a Salute to Julius Squeezer and Mr. Bean)
Remarks before the Progress & Freedom Foundation Aspen Summit 2008
Aspen, Colorado
August 19, 2008
"The earnest men and women who make up the FOMC have no intention of squandering the bedrock capital of a central bank: the confidence the public places in our hands to keep inflation at bay while we work to bolster economic growth and restore the financial system."

A Perspective on China
Remarks to a Working Dinner Sponsored by the Progress & Freedom Foundation
Aspen, Colorado
August 18, 2008
"In contemplating China, we need to look past carefully crafted images and deepen our understanding of her national interest. Failure to do so will be perilous."

Storms on the Horizon
Remarks before the Commonwealth Club of California
San Francisco, California
May 28, 2008
"Even the perception that the Fed is pursuing a cheap-money strategy to accommodate fiscal burdens, should it take root, is a paramount risk to the long-term welfare of the U.S. economy. The Federal Reserve will never let this happen. It is not an option. Ever. Period."

Labor Omnia Vincit (Labor Conquers All Things)
Commencement Address to Admiral Farragut Academy
St. Petersburg, Florida
May 17, 2008
"You need to dream of big things. But dreaming will not suffice. To succeed, you must work. If you are willing to work hard, you will achieve your goals. That is all you need to remember of this graduation speech."

Selling Our Services to the World (With an Ode to Chicago)
Remarks before the Chicago Council on Global Affairs
Chicago
April 17, 2008
"The United States, like Chicago, can continue to prosper only if it faces economic change head-on, choosing to compete rather than retreat, seeking out new opportunities in a globalizing economy, where goods, services, money and ideas flow freely across international borders."

The Egocentricity of the Present (Prefaced by the Tale of Ruth and Emma)
Remarks before a Federal Reserve Bank of Dallas Community Forum
San Antonio, Texas
April 9, 2008
"In building the bridge to restore financial order and efficiency, my primary interest is to do the minimum necessary to get the job done. And no more. In so doing, my hope is that we restore the long-term faith of the millions of risk takers who make our economy so mighty."

Comments on Stylized Facts of Globalization and World Inflation
Remarks for a panel discussion at the International Symposium of the Banque de France on Globalisation, Inflation and Monetary Policy
Paris, France
March 7, 2008
"In today’s world, where investors can move their funds instantly from one currency to another to avoid depreciation, the price central bankers pay for high inflation is much higher than in the past. Understanding this, you can see why I am a steadfast inflation-fighting owl."

Balancing Inflation and Growth
Remarks before the Society of Business Economists
London, England
March 4, 2008
"At present, we simply do not have the ability to adequately account for the impact globalization has on the gearing of our domestic economy. Absent that capacity, we cannot, in my opinion, confidently assume that slower U.S. economic growth will quell U.S. inflation and, more important, keep inflationary expectations anchored."

Defending Central Bank Independence
Remarks at Instituto Tecnológico Autónomo de México
Mexico City, Mexico
February 7, 2008
Speech in Spanglish
"Monetary policy acts with a lag. I liken it to a good single malt whiskey or perhaps truly great tequila: It takes time before you feel its full effect. The Fed has to be very careful now to add just the right amount of stimulus to the punchbowl without mixing in the potential to juice up inflation once the effect of the new punch kicks in."

Challenges for Monetary Policy in a Globalized Economy
Remarks before the Global Interdependence Center
Philadelphia, Pennsylvania
January 17, 2008
"...the FOMC does not intend to just squat and wait should economic data and sound risk management signal that monetary accommodation is required."