Transcripts of the monetary policymaking body of the Federal Reserve from 2002–2008.

There are still shortcomings, no doubt. It’s still the case that Asian market capitalism is not Anglo-Saxon market capitalism. And China could still find that the enormous task it has set itself of changing that economy at a very rapid pace could run into troubles. These are not guarantees, but I think it’s in some sense a description of where we’ve been. And even all the shocks that we’ve all talked about so much—9/11, Enron, stock market collapses, et cetera—which were every bit as much global as they were U.S.-only, have been absorbed remarkably well, not only here but abroad.

Keyboard shortcuts

j previous speech k next speech