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From the peak in 2007 to the trough in 2009, Americans lost $11 trillion of net worth for households and businesses.
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I believe that the history of Fed policymaking is that, you know, there are times when we need to raise rates.
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In a world of global competition and new technology, I think competition is coming from new places.
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During the slow recovery after the Great Recession, inflation was very low, and it took us a while to get it back moving up.
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It's a challenge for monetary policy to communicate that our inflation objective is 2 percent.
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For risk management reasons, we need to make sure we hit our inflation objective at the same time we're at full employment.
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