I have spoken about deficits, and I think deficits are important because they address broad economic and financial stability. We need to talk about that.

Developments in financial markets can have broad economic effects felt by many outside the markets.

The Libor system is structurally flawed. It is a major problem for our financial system and for the confidence in the financial system. We need to address it.

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.

Italy even in the future will not need aid from the European Financial Stability Fund.

The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.