Both Humanity's Capacity To Innovate And The

...the Federal Reserve Has The Capacity To Operate In Domestic Money Markets To Maintain Interest Rates At A Level Consistent With Our Economic Goals

Over The Years, The U.s. Economy Has Shown A Remarkable Ability To Absorb Shocks Of All Kinds, To Recover, And To Continue To Grow.

Monetary Policy Is Not A Panacea.

Among The Largest Banks, The Capital Ratios Remain Good And I Don’t Expect Any Serious Problems . . . . Among The Large, Internationally Active Banks That Make Up A Very Substantial Part Of Our Banking System.

Inflation Is Certainly Low And Stable And, Measured In Unemployment And Labour-market Slack, The Economy Has Made A Lot Of Progress. The Pace Of Growth Is Disappointingly Slow, Mostly Because Productivity Growth Has Been Very Slow, Which Is Not Really Something Amenable To Monetary Policy. It Comes From Changes In Technology, Changes In Worker Skills And A Variety Of Other Things, But Not Monetary Policy, In Particular.