Occupation: Economist Birth: August 13, 1946
By some estimates, income and wealth inequality are near their highest levels in the past hundred years, much higher than the average during that tim….
We do not interpret bitcoin's popularity as having a relationship with the public's view of the Federal Reserve's conduct of monetary policy.
The bottom line for housing is that the concerns we used to hear about the possibility of a devastating collapse—one that might be big enough to caus….
After adjusting for inflation, the average income of the top 5% of households grew by 38% from 1989 to 2013. By comparison, the average real income ….
The distribution of wealth is even more unequal than that of income. ...The wealthiest 5% of American households held 54% of all wealth reported in t….
My bottom line is that monetary policy should react to rising prices for houses or other assets only insofar as they affect the central bank's goal v….
I'm just opposed to a pure inflation-only mandate in which the only thing a central bank cares about is inflation and not employment..
I am anxious to fix welfare. There has to be more training and child care..
Although most Americans apparently loathe inflation, Yale economists have argued that a little inflation may be necessary to grease the wheels of the….
One common way of judging whether housing's price is in line with its fundamental value is to consider the ratio of housing prices to rents. This is ….
Productivity growth, however it occurs, has a disruptive side to it. In the short term, most things that contribute to productivity growth are very p….
I would be strongly committed to working with the FOMC to continue promoting a robust economic recovery ... I consider it imperative that we do what ….
[A] major source of wealth for many families is financial assets, including stocks, bonds, mutual funds, and private pensions. ...the wealthiest 5 pe….
Prospects for growth in the year ahead are solid at the national level, and of course, this can only be good news for the Bay Area and California as ….