Occupation: Economist Birth: December 13, 1953
There's no denying that a collapse in stock prices today would pose serious macroeconomic challenges for the United States. Consumer spending would s….
The economic repercussions of a stock market crash depend less on the severity of the crash itself than on the response of economic policymakers, par….
I'd throw dollars out of helicopters if I had to, to stimulate the economy..
To avoid large and unsustainable budget deficits, the nation will ultimately have to choose among higher taxes, modifications to entitlement programs….
I think that having good data, good statistics-and the United States generally has better macroeconomic statistics than most countries-and having goo….
Investment banks manage to go bankrupt through their investment-banking activities, commercial banks manage to go bankrupt through their commercial-b….
If I am confirmed, I am confident that my colleagues on the Federal Open Market Committee and I will maintain the focus on long-term price stability ….
Achieving price stability is not only important in itself, it is also central to attaining the Federal Reserve's other mandate objectives of maximum ….
While rising delinquencies and foreclosures will continue to weigh heavily on the housing market this year, it will not cripple the U.S..
The financial crisis appears to be mostly behind us, and the economy seems to have stabilized and is expanding again..
The Federal Reserve will not monetize the debt..
The U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars ….
The Federal Reserve is not currently forecasting a recession..
It's true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles..
The sources of deflation are not a mystery. Deflation is in almost all cases a side effect of a collapse of aggregate demand.. a drop in spending so ….
The people who best use their advantages, or overcome adversity, and work honestly are those most worthy of admiration..
We’ve never had a decline in house prices on a nationwide basis. So, what I think what is more likely is that house prices will slow, maybe stabilize….
Although low inflation is generally good, inflation that is too low can pose risks to the economy - especially when the economy is struggling..
The risk that the economy has entered a substantial downturn appears to have diminished over the past month or so..
I don't think that Chinese ownership of U.S. assets is so large as to put our country at risk economically..
The best approach here, if at all possible, is to use supervisory and regulatory methods to restrain undue risk-taking and to make sure the system is….