Conclusion Although fiscal policies and structural reforms can play an important role in strengthening the U.S. economy, my primary message today is that I expect monetary policy will continue to play a vital part in promoting a stable and healthy economy.
Commercial banks offer poor returns on deposits, invariably below the rate of inflation; the purchasing power of monies left on deposit at a bank is eroded over time. Government paper is the most remunerative financial investment available to individuals. For those with gratuities and large amounts on which they need to earn interest, longer term securities are the best yielding.