The GSEs are adequately capitalized. They are in no danger of failing.

It's true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles.

The impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained.

I served seven years as the chair of the Princeton economics department where I had responsibility for major policy decisions, such as whether to serve bagels or doughnuts at the department coffee hour.

The economic repercussions of a stock market crash depend less on the severity of the crash itself than on the response of economic policymakers, particularly central bankers.

The more guidance a central bank can provide the public about how policy is likely to evolve the greater the chance that market participants will make appropriate inferences.

While rising delinquencies and foreclosures will continue to weigh heavily on the housing market this year, it will not cripple the U.S.