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The American people are among the most productive in the world. We have the best technologies. We have great universities. We have entrepreneurs.
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So far, the effects appear to be relatively modest on growth.
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I think that having good data, good statistics-and the United States generally has better macroeconomic statistics than most countries-and having good economists to interpret those data and present the policy alternatives, has a substantially beneficial effect on policymaking in the United States.
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No one will lend at a negative interest rate; potential creditors will simply choose to hold cash, which pays zero nominal interest.
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Certainly there is no way to direct the effects of monetary policy at a single class of assets while leaving other financial markets and the broader economy untouched. One might as well try to perform brain surgery with a sledgehammer.
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People saw the Depression as a necessary thing - a chance to squeeze out the excesses, get back to Puritan morality. That just made things worse.
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We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.
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Only a strong economy can create higher asset values and sustainably good returns for savers.
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You want to put the fire out first and then worry about the fire code.
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The GSEs are adequately capitalized. They are in no danger of failing.
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Over the past decade a combination of diverse forces has created a significant increase in the global supply of saving -- a global saving glut.
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The downturn following the collapse of Japan's so-called bubble economy of the 1980s was not as severe as the Great Depression.
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China is growing very quickly and is clearly becoming an important player in the world economy.
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Growth in U.S. real imports slowed to about 3 percent in 2006, in part reflecting a drop in real terms in imports of crude oil and petroleum products.
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Under a cold turkey strategy, at each policy meeting the Federal Open Market Committee would make its best guess about where it ultimately wants the funds rate to be and would move to that rate in a single step.
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It's true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles.
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According to government ethics rules ... it is permissible for a retired (Fed) governor to speak in public about the economy so long as he or she does not divulge confidential information. I have no indication that he has violated that rule.
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I don't think that Chinese ownership of U.S. assets is so large as to put our country at risk economically.
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When prices are stable, people can hold money for transactions and other purposes without having to worry that inflation will eat away at the real value of their money balances.
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As long as we find that the energy impact is only temporary ... my guess is that the effects on the overall economy will be fairly modest.
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In the typical economic recovery, a resurgent housing sector helps fuel reemployment and rising incomes.
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[Virtual Currencies] may hold long-term promise, particularly if the innovations Promote a faster, more secure and more efficient payment system.
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Rents should begin to decelerate as the demand for owner-occupied housing stabilizes and the supply of rental units increases.
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There is a deficit; I'd like to see it lowered. But it's up to Congress to decide whether that should be done by higher taxes, lower spending or some combination.