I'm pretty positive about the outlook.

I don't want rates to go too far. Obviously you don't want to make a series of bad judgments. I don't think that is the case.

At the end of the day, I think the economy really isn't fragile at all.

We've said we're more data-driven. Personally I think that's fully appropriate.

We have to ... put more emphasis on the incoming data and the anecdotes we get from the business community and other audiences and try to put together a coherent assessment of the economy.

You don't want to just focus so narrowly on housing prices that you think that is going to be determinative of everything you can conceive of.

At the end of the day, is it really going to matter for an economy of our size?

I don't think it would be devastating for economic activity. I think it might, on the margin, inhibit it some.

My sense of things is the attention being paid to [the housing market] may be exaggerated.