Quotes of All Topics . Occasions . Authors
If the fiscal cliff occurs, I don't think the Federal Reserve has the tools to offset that event.
Developments in financial markets can have broad economic effects felt by many outside the markets.
I don't think there are any students who should not be exposed to a basic financial literacy course.
Uncertainty is seen to retard investment independently of considerations of risk or expected return.
If you are not happy with yourself, even the loftiest achievements won't bring you much satisfaction.
To be sure, faster growth in nominal labor compensation does not necessarily portend higher inflation.
The banks have accounts with the Fed, much the same way that you have an account in a commercial bank.
It's true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles.
As we try to make the financial system safer, we must inevitably confront the problem of moral hazard.
In the typical economic recovery, a resurgent housing sector helps fuel reemployment and rising incomes.
The ultimate purpose of economics, of course, is to understand and promote the enhancement of well-being.
A money-financed tax cut is essentially equivalent to Milton Friedman's famous 'helicopter drop' of money.
I don't think that Chinese ownership of U.S. assets is so large as to put our country at risk economically.
The children of the unemployed achieve less in school and appear to have reduced long-term earnings prospects.
Economic engineering is about the design and analysis of frameworks for achieving specific economic objectives.
September and October of 2008 was the worst financial crisis in global history, including the Great Depression.
The amount of currency in circulation is not changing. The money supply is not changing in any significant way.
Of course, economic forecasts must be revised when new information arrives and are thus necessarily provisional.
The financial crisis that began in the summer of 2007 was an extraordinarily complex event with multiple causes.
History has demonstrated time and again the inherent resilience and recuperative powers of the American economy.
If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.
The risk that the economy has entered a substantial downturn appears to have diminished over the past month or so.
If you take a candy bar in the short run, it gives you a burst of energy, but after a while, it just makes you fat.
Building a rainy-day fund during good times may not be politically popular, but it can pay off during the bad times.
For many of us, owning a home signaled a passage into adulthood that coincided with the start of a career and family.
The financial crisis appears to be mostly behind us, and the economy seems to have stabilized and is expanding again.
It must be awfully frustrating to get a small raise at work and then have it all eaten by a higher cost of commuting.
Most of the policies that support robust economic growth in the long run are outside the province of the central bank.
No economy can succeed without a high-quality workforce, particularly in an age of globalization and technical change.
We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.
The people who best use their advantages, or overcome adversity, and work honestly are those most worthy of admiration.
If you're in a car crash, you're mostly involved in trying to not go off the bridge, and later on you say, 'Oh my God!'
Both humanity's capacity to innovate and the incentives to innovate are greater today than at any other time in history.
The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.
To the extent that bank panics interfere with normal flows of credit, they may affect the performance of the real economy.
Economics is a very difficult subject. I've compared it to trying to learn how to repair a car when the engine is running.
Low and stable inflation in many countries is an important accomplishment that will continue to bring significant benefits.
Under current law, on January 1, 2013, there's going to be a massive fiscal cliff of large spending cuts and tax increases.
In the future, my communications with the public and with the markets will be entirely through regular and formal channels.
The Federal Reserve has never suffered any losses in the course of its normal lending to banks and, now, to primary dealers.
The impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained.
Rents should begin to decelerate as the demand for owner-occupied housing stabilizes and the supply of rental units increases.
One would be forgiven for concluding that the assumed benefits of financial innovation are not all they were cracked up to be.
If you are asking me if I would advocate that the Chinese go to greater flexibility in their exchange rate, I certainly would.
The downturn following the collapse of Japan's so-called bubble economy of the 1980s was not as severe as the Great Depression.
I would argue that no financial instrument counted as regulatory capital should be allowed to receive any protection from losses.
A.I.G. was even larger than Lehman, with a substantial presence in derivatives and debt markets, as well as in insurance markets.
Remember that physical beauty is evolution's way of assuring us that the other person doesn't have too many intestinal parasites.
The Federal Reserve Act requires the Federal Reserve to report annually on its operations and to publish its balance sheet weekly.
Over the years, the U.S. economy has shown a remarkable ability to absorb shocks of all kinds, to recover, and to continue to grow.