If prices go down, we will have problems - problems in the sense of spillover to other areas.

Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset: the increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.

Anything that we can do to raise personal savings is very much in the interest of this country.

The tub helps me relax, and it's a great place to read.

Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.

But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?

All taxes are a drag on economic growth. It's only a question of degree.