I must say that before I attended FOMC meetings, I had a different view of what constitutes the nature of policy, because I used to read the directives and I couldn’t for the life of me figure out what in the world they were talking about. But now, given the few FOMC meetings I’ve attended, I’m realizing what it is.

Since I've become a central banker, I've learned to mumble with great incoherence. If I seem unduly clear to you, you must have misunderstood what I said.