He said what?
2013 - "The amount of US Student Debt is large, but not particularly likely to cause macro-economic instability."
Oh yeah, nothing to worry about here at all (or here or here or here).
and while that is the big one, we thought a few other recent comments were worryingly similar in their over-confidnce of the Fed's omnipotence:
Then - "it's fair to say that house prices are supported by the fundamental strength of the economy... "
Now - No obvious bubbles as "Asset prices are supported by the fundamental strength of the economy..."
Then - "I don't buy your premise, we've never had a nationwide decline in house prices..."
Now - "I would respectfully disagree that inflation measures underestimate the true rate of price increases..."
Then - "confident that bank regulators will pay close attention to the froth in certain areas..."
Now - "Froth" in high-yield, we are "monitoring" closely; and "sustained low rates can prompt 'reach for yield'", but "we are mointoring closely"