There’s no denying that a collapse in stock prices today would pose serious macroeconomic challenges for the United States. Consumer spending would slow, and the U.S. economy would become less of a magnet for foreign investors. Economic growth, which in any case has recently been at unsustainable levels, would decline somewhat. History proves, however, that a smart central bank can protect the economy and the financial sector from the nastier side effects of a stock market collapse. Help us to share this great article. Your friends will appreciate it! 0share Facebook0 Twitter0 Pinterest0 LinkedIn0 Flipboard Tumblr0 Mix
If you are asking me if I would advocate that the Chinese go to greater flexibility in their exchange rate, I certainly would. Help us to share this great article. Your friends will appreciate it! 0share Facebook0 Twitter0 Pinterest0 LinkedIn0 Flipboard Tumblr0 Mix
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. Help us to share this great article. Your friends will appreciate it! 0share Facebook0 Twitter0 Pinterest0 LinkedIn0 Flipboard Tumblr0 Mix
Education – lifelong education for everyone – from toddlers to workers well advanced in their careers – is indeed an excellent investment for individuals and society as a whole. Help us to share this great article. Your friends will appreciate it! 0share Facebook0 Twitter0 Pinterest0 LinkedIn0 Flipboard Tumblr0 Mix
The more important reason is that the research itself provides an important long-run perspective on the issues that we face on a day-to-day basis. Help us to share this great article. Your friends will appreciate it! 0share Facebook0 Twitter0 Pinterest0 LinkedIn0 Flipboard Tumblr0 Mix
A money-financed tax cut is essentially equivalent to Milton Friedman’s famous ‘helicopter drop’ of money. Help us to share this great article. Your friends will appreciate it! 0share Facebook0 Twitter0 Pinterest0 LinkedIn0 Flipboard Tumblr0 Mix
Given the central role of effective, firmwide risk management in maintaining strong financial institutions, it is clear that supervisors must redouble their efforts to help organizations improve their risk-management practices…We are also considering the need for additional or revised supervisory guidance regarding various aspects of risk management, including further emphasis on the need for an enterprise-wide perspective when assessing risk. Help us to share this great article. Your friends will appreciate it! 0share Facebook0 Twitter0 Pinterest0 LinkedIn0 Flipboard Tumblr0 Mix
The American people are among the most productive in the world. We have the best technologies. We have – great universities. We have entrepreneurs. Help us to share this great article. Your friends will appreciate it! 0share Facebook0 Twitter0 Pinterest0 LinkedIn0 Flipboard Tumblr0 Mix
Under current law, on January 1, 2013, there’s going to be a massive fiscal cliff of large spending cuts and tax increases. Help us to share this great article. Your friends will appreciate it! 0share Facebook0 Twitter0 Pinterest0 LinkedIn0 Flipboard Tumblr0 Mix
The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings. Help us to share this great article. Your friends will appreciate it! 0share Facebook0 Twitter0 Pinterest0 LinkedIn0 Flipboard Tumblr0 Mix
Developments in financial markets can have broad economic effects felt by many outside the markets. Help us to share this great article. Your friends will appreciate it! 0share Facebook0 Twitter0 Pinterest0 LinkedIn0 Flipboard Tumblr0 Mix
The Fed is totally open. Help us to share this great article. Your friends will appreciate it! 0share Facebook0 Twitter0 Pinterest0 LinkedIn0 Flipboard Tumblr0 Mix
A meritocracy is a system in which the people who are the luckiest in their health and genetic endowment; luckiest in terms of family support, encouragement and, probably, income; luckiest in their educational and career opportunities; and luckiest in so many other ways difficult to enumerate – these are the folks who reap the largest rewards. Help us to share this great article. Your friends will appreciate it! 0share Facebook0 Twitter0 Pinterest0 LinkedIn0 Flipboard Tumblr0 Mix
I generally leave the details of fiscal programs to the Administration and Congress. That’s really their area of authority and responsibility, and I don’t think it’s appropriate for me to second guess. Help us to share this great article. Your friends will appreciate it! 0share Facebook0 Twitter0 Pinterest0 LinkedIn0 Flipboard Tumblr0 Mix
[Virtual Currencies] may hold long-term promise, particularly if the innovations Promote a faster, more secure and more efficient payment system. Help us to share this great article. Your friends will appreciate it! 0share Facebook0 Twitter0 Pinterest0 LinkedIn0 Flipboard Tumblr0 Mix
A collapse in U.S. stock prices certainly would cause a lot of white knuckles on Wall Street. But what effect would it have on the broader U.S. economy? If Wall Street crashes, does Main Street follow? Not necessarily. Help us to share this great article. Your friends will appreciate it! 0share Facebook0 Twitter0 Pinterest0 LinkedIn0 Flipboard Tumblr0 Mix
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. Help us to share this great article. Your friends will appreciate it! 0share Facebook0 Twitter0 Pinterest0 LinkedIn0 Flipboard Tumblr0 Mix
The people who best use their advantages, or overcome adversity, and work honestly are those most worthy of admiration. Help us to share this great article. Your friends will appreciate it! 0share Facebook0 Twitter0 Pinterest0 LinkedIn0 Flipboard Tumblr0 Mix
Weaker currencies abroad mean a strong dollar, and a stronger dollar, together with a weak global environment, is a drag on the U.S. economy. So it’s important, as it affects overall levels of production and employment in the U.S. There are many domestic industries doing well in the United States, notwithstanding a strong dollar. Help us to share this great article. Your friends will appreciate it! 0share Facebook0 Twitter0 Pinterest0 LinkedIn0 Flipboard Tumblr0 Mix
The risk exists that, with aggregate demand exhibiting considerable momentum, output could overshoot its sustainable path, leading ultimately in the absence of countervailing monetary policy action to further upward pressure on inflation. Help us to share this great article. Your friends will appreciate it! 0share Facebook0 Twitter0 Pinterest0 LinkedIn0 Flipboard Tumblr0 Mix
