- The Fed has come a long way in tightening monetary policy
- Active tool of monetary policy is interest rates, not the balance sheet
- Fed will act to shore up financial system if needed
- Emergency lending to banks has eased financial sector stress.
- The USD is still the world's top reserve currency.
- Congress must address the debt ceiling. Confident they will act.
She is not as alarmist as some of the hawks on the board.
