Quote

I don't want Congress setting monetary policy.

We have gotten to the point where everything the government does is counterproductive; the conclusion, of course, is that the government should do nothing at all, that is, should retire quickly from the monetary and economic scene and allow freedom and free markets to work.

Monetary policy is not a panacea.

Trying to balance the budget through defense cuts is both counterproductive and impossible.

Debates go on to this day about what caused the Great Depression. Economics is not very good at explaining swings in economic activity.

Endorsing unconventional monetary policies unquestioningly is tantamount to saying that it is acceptable to distort asset prices if there are other domestic constraints on growth.

Monetary policy itself cannot sensibly be directed at reducing imbalances.

Monetary discipline forces fiscal discipline on the politicians as well.

It's true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles.

The political climate during a campaign is not the best climate for reasonable debate.