It's something we're watching, but not with great concern, ... I think there is room in the world for another major currency and this was one is certainly welcome.

Indeed, I hope to spend more time and to be more effectively involved in the city than I have been able to be at the Fed.

Well, it was hard to find anybody, but I called my high school boyfriend and said, 'Can you tell the FBI what I was doing in the summer of '52?' And he said, 'Sure, if you'll remind me.' And I did, and he did, and - that was fine.

We hope the report won't sit on the shelf somewhere but that it actually gets into the currency of political thinking. With the mayor and council races coming up next year, I think there's a good chance that it will.

What he's likely to do is to continue writing and speaking, as he has done to some extent at the Fed, and pursuing his interests in economics, which are very intense, ... He loves working with data and thinking of new ideas about the economy. I suspect we will get some of that, and in some ways, he'll be a little bit freer to speak.

It will be a good long time before there's upward pressure on prices or wages.

The increase in inequality in income is a longtime trend, but the pressure on middle- and low-income workers is going up rapidly. Especially if they live in an area where there are high housing and gas prices, like California.

I had been to Europe that summer, and they said, 'Can anybody verify that?'

I wouldn't expect him to do anything different than Greenspan - certainly not at the beginning.

They are not going to raise rates till probably next fall, if that, assuming that the recovery continues to gather momentum.