Latest 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."

Other Recent Speeches

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."

More 2008 Speeches»