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Achieving price stability is not only important in itself, it is also central to attaining the Federal Reserve's other mandate objectives of maximum sustainable employment and moderate long-term interest rates.

A robust economy is a source of national strength for Japan.

Government bonds have basically been sold in the domestic market, so there is some sense of stability, but the amount of public debt is really severe... Japan must manage its finances with a sense of urgency.

Interest rates are used to achieve overall economic stability.

Stability is necessary for our future economic success.

There's a tendency for the yen to strengthen because it's rated highly, but I don't think that accurately reflects Japan's economic performance.

In a global marketplace with its increased insecurities and - indeed often - volatility and instability, national economic stability is at a premium, the precondition for all we can achieve, and no nation can secure the high levels of sustainable investment it needs without both monetary and fiscal stability together.

Japan rose from the ashes of World War II as a 'trading state,' the model for export-led growth. It is not clear that the old export model of growth will be sustainable in a more 'balanced' global economy that does not rely so heavily on the U.S. consumer.

In this context, the current recovery in the Japanese economy is taking place in tandem with the growing interdependence with the rest of the world, particularly with the other East Asian economies.

During the Greenspan-Bernanke era, the Fed has embraced the view that stability in the economy and stability in prices are mutually consistent. As long as inflation remains at or below its target level, the Fed's modus operandi is to panic at the sight of real or perceived economic trouble and provide emergency relief.