When I started working, I didn't have a clue what I was doing, in that I was just wandering around, hoping that I could succeed. Then after I got a little under my belt, it took me about 25 years to feel like I knew what I was doing.
“And let the Fed sell bonds to bring bank reserves back down to required reserve levels, so we have restraint on bank lending and bank issuances of liability.”
“I don't think it's a matter of, do you win the game or not, it's how gracefully do you play it.”