The Economic Club of New YorkNew York, New York
When I last spoke at the Economic Club of New York a little more than a year ago, the financial crisis had just taken a...
At the Federal Reserve Bank of Boston 54th Economic ConferenceChatham, Massachusetts
The theme of the Federal Reserve Bank of Boston's Economic Conference this...
The rise of the Asian economies since World War II has been one of the great success stories in the history of economic development. Japan's transition to an...
The Federal Reserve Board Conference on Key Developments in Monetary PolicyWashington, D.C.
To fight a recession, the standard prescription for a central bank is to...
Before the Committee on Financial Services, U.S. House of RepresentativesWashington, D.C.
Chairman Frank, Ranking Member Bachus, and other members of the Committee, I...
Congressional Black Caucus Foundation's Annual Legislative Conference Washington, D.C.
Good morning. Thank you for the opportunity to speak during the Congressional...
Thank you, Mr. President.
I would like to express my gratitude to President Obama for the confidence he has shown in me with this nomination and for his unwavering...
By the standards of recent decades, the economic environment at the time of this symposium one year ago was quite challenging. A year after the onset of the current...
Before the House Committee on Financial Services
Chairman Frank, Ranking Member Bachus, and other members of the Committee, I am pleased to present the Federal Reserve's...
The depth and breadth of the global recession has required a highly accommodative monetary policy. Since the onset of the financial crisis nearly two...
Chairman Towns, Ranking Member Issa, and other members of the Committee, I appreciate the opportunity to discuss the Federal Reserve's role in the acquisition by the...
I am pleased to be back at the Town Hall Education, Arts, and Recreation Campus for the Global Financial Literacy Summit. I commend the organizers and participants for...
Committee on the Budget
Chairman Spratt, Ranking Member Ryan, and other members of the Committee, I am pleased to have this opportunity to offer my views on current...
I am very pleased to have the opportunity to address the graduates of the Boston College Law School today. I realized with some chagrin that this is the third year...
My remarks this evening will focus on the Supervisory Capital Assessment Program, popularly known as the banking stress test. The federal bank regulatory agencies began...
After more than a year and a half of financial crisis, both bankers and policymakers must contend with two questions: What have we learned from this extraordinary...
Chair Maloney, Vice Chairman Schumer, Ranking Members Brownback and Brady, and other members of the Committee, I am pleased to be here today to offer my views on recent...
The Federal Reserve System's Sixth Biennial Community Affairs Research Conference
Washington, D.C.
The concept of financial innovation, it seems, has fallen on hard...
Morehouse College
Atlanta, Georgia
I am pleased to have the privilege of speaking today to the students and faculty of Morehouse College, the only all-male historically...
Though we have been creative in deploying our balance sheet, using a multiplicity of new programs (and coining a multiplicity of new acronyms, I might add), we have done...
AIG's financial condition had been deteriorating for some time, caused by actual and expected losses on subprime mortgage-backed securities and on credit default swaps...
Federal Reserve Actions to Address the Financial CrisisThe depth and complexity of the strains that have gripped financial markets and institutions since the summer of...
The global imbalances were the joint responsibility of the United States and our trading partners, and although the topic was a perennial one at international...
The financial crisis intensified considerably in the fall. In the United States, the government-sponsored enterprises, Fannie Mae and Freddie Mac, were placed into...
The substantial declines in the prices of energy and other commodities last year and the growing margin of economic slack have contributed to a substantial lessening of...
Each of these policy approaches involves the provision of credit or the purchase of debt securities by the Federal Reserve, which collectively have resulted in a...
The value of the TARP in promoting financial stability has already been demonstrated. The financial crisis intensified greatly in the latter part of September and...
Considerable experience in both industrialized and emerging economies has shown that severe financial instability, together with the associated declines in asset prices...
The Federal Reserve believes that, whenever possible, such difficulties should be addressed through private-sector arrangements--for example, by raising new equity...