The U.S. Economy, Globalization and Inflation Measurement (With Brief References to Brawls, Beer and Bikinis)
Remarks before the Australian Business Economists
Sydney, Australia
November 14, 2007
"Our job has been made more complicated by globalization—the freer flow of goods, services, money, ideas and people across national borders. Its present incarnation owes a great deal to the revolution in information technology. Faster, cheaper and better communications are breaking down barriers to international business and knitting the world's economies closer together faster than Skippy could outsmart a pack of hungry dingoes."

John Taylor's Contributions to Monetary Theory and Policy
Welcome Remarks at a Federal Reserve Bank of Dallas Conference
Dallas, Texas
October 12, 2007
"John Taylor has divided his career between academia and government service, and both spheres owe him a debt of gratitude for having done so."

Inflation Measurement and Price Volatility
Remarks Before the Charlotte Economics Club
Charlotte, N.C.
October 4, 2007
"Those of us responsible for crafting U.S. monetary policy cannot afford to be distracted by the flux of short-term price changes that are destined to be unwound. Our eye should be focused on underlying inflationary pressures, some of which may indeed be coming from food and energy markets. Routinely excluding food and oil price movements from our inflation gauges may have made sense in the 1970s, the 1980s and even the 1990s—but not now, nor in the next few years."

In the Lap of the Gods
Remarks at the Greater Dallas Chamber Annual State of Technology Luncheon
Dallas, Texas
October 2, 2007
"We live in a time when it is fashionable to look at all glasses as half full. Chicken Little rules the roost of economic prognostication. The innovators in this room know differently."

You Earn What You Learn
Delivered to the North Dallas Chamber of Commerce Seventh Annual Real Estate Symposium
Dallas, Texas
September 24, 2007
"The vital capital stock of our modern economy is not our buildings or our factories or our farms. It is our brains. It is our ability to conjure new and better ideas, inventions and solutions. It is our commitment to exceptional customer service. It is our designs for better buildings, faster computers and more successful space flights."

The U.S., Mexican and Border Economies
Remarks before a Federal Reserve Bank of Dallas Community Luncheon
Laredo, Texas
September 10, 2007
"It is fair to say that I am encouraged by what I have heard against a background of constant negative speculation and the occasional discordant note, such as last week's employment numbers. Our economy appears to be weathering the storm thus far. The future path of that storm and the appropriate policy course, however, are still to be determined. "
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The Southern States in a Globalized Economy
Remarks before the Southern Governors’ Association 73rd Annual Meeting
Biloxi, Mississippi
August 25, 2007
"There is no great secret about how to lay the groundwork for Southern states' success in harvesting and harnessing—in mastering—globalization. The key to adapting to and profiting from globalization lies in education."

Higher Education in Texas
Remarks to the Rotary Club of Dallas
Dallas, Texas
June 13, 2007
"Economists may quibble about widgets and whatnot, but they are united on this: Education pays off. There’s an irrefutable positive link between education and income. We see it across countries, between individuals, in America’s progress over time and when comparing states. "

Commencement Address at the University of Texas Southwestern Medical Center
Dallas, Texas
June 2, 2007
"...True success comes to those who best put their talents in context and who connect a substantial intellect to an equally developed emotional capacity. Those of us who lead cerebral lives must constantly strive to elevate our 'people skills' to a level equal to our intellectual skills."

Introductory Remarks to the Price Measurement for Monetary Policy Conference
Given to a Conference Organized by the Federal Reserve Banks of Dallas and Cleveland
Dallas, Texas
May 24, 2007
"One of our main criticisms here at the Dallas Fed of much of the core inflation literature is that it lacks theoretical coherence. It reminds me of the time-honored saying that an economist is someone who sees something work in practice and then wonders if it can work in theory."

The Dog That Does Not Bark but Packs a Big Bite: Services in the U.S. Economy
Remarks before the U.S.–China Business Council, the Coalition of Service Industries and the American Council of Life Insurers
Washington, D.C.
May 14, 2007
"The service sector may not be as noisy or get as much analytical or political attention as the manufacturing sector, but it has a significant bite in terms of its impact on economic performance.... As we seek to conduct monetary policy, we will have to develop new methods for determining exactly how the service sector's bite affects the business cycle and economic behavior."

Comments on Current Conundra
Remarks to the 2007 Annual Conference of the Investment Adviser Association
Austin, Texas
April 26, 2007
"Many options would improve the fiscal fitness of our entitlement system and reduce the need for drastic action elsewhere in the federal budget. But let’s be honest. These remedies work only because some people would get less than they are currently slated to receive. Painful as that may be, the question is whether other options would be even more difficult."

Remarks upon Receiving the Sun & Star Legacy Award from the Japan-America Society of Dallas/Fort Worth
Dallas, Texas
April 19, 2007
"Thank you for honoring me with the Sun & Star Legacy Award. I am most grateful to the Japan-America Society for this honor… The one thing that is so engrossing about Japan is that the more you experience it, the less you know about it. Every time I began to think I had it figured out, I’d realize that I was only just beginning to understand it."

Fiscal Issues: From Here to Eternity
(with Apologies to Burt Lancaster, Deborah Kerr and Donna Reed)
Remarks before the Equipment Leasing and Finance Association
Financial Institutions Conference
Irving, Texas
April 16, 2007
"Yes, we remain the biggest player on the global stage, but if we fail to get our fiscal house in order, we could bequeath our descendants unconscionable debt and slow the global economy to boot. Is that to be our legacy?"

Globalizing the Knowledge Economy
Remarks before the Houston World Affairs Council
Houston, Texas
April 13, 2007
"We need new and better tools to help us determine just how globalization is affecting economies around the world, and how policymakers can reap benefits from these insights. Getting it right may well alter our notions of economic progress, with ramifications for how we approach the goal of price stability."

Risk Is a Many Splendored Thing: Lessons Learned
Remarks to the Austin Mortgage Bankers Association
Austin, Texas
April 4, 2007
"The elimination of risk can never be the goal of any type of policymaker in a capitalist system. Risk becomes a problem only when it is excessive or when it is abused—a proposition that is especially true in today's environment, where financial markets are increasingly globally integrated and information moves with the click of a mouse."

Remarks to the Headliners Club
Austin, Texas
February 27, 2007
"Last year, employment grew twice as fast in Texas as it did in the rest of the United States. Construction payrolls grew at five times the U.S. rate. We added 26,000 net new factory jobs in 2006, while the nation’s manufacturers posted an overall loss of 110,300 jobs. The energy sector grew its workforce by over 13 percent, well outpacing the rest of the country’s 7.5 percent rate. Our energy sector still only employs about 2 percent of our workforce. Texas excels at the high-value-added end of the equation: Our output per worker in computers and electronics has overtaken California’s."

Remarks to the Marine Military Academy upon Receipt of the Iwo Jima Leadership Award
Harlingen, Texas
February 16, 2007
" We learned the values of camaraderie and esprit de corps, and that semper fidelis was more than a slogan. Being faithful to your country, your mission and your potential is reward in itself."

Brief Comments on the Economy and the Business of the Dallas Fed
Remarks before the Park Cities Rotary Club
Dallas, Texas
February 9, 2007
"At this early juncture in 2007, I think it entirely reasonable to expect the economy to maintain an average pace of 3 percent growth for the year. And, if we at the Fed do our job well, we should be able to accommodate that growth rate while bringing inflation down below 2 percent."