It is not the responsibility of the Federal Bank - nor would it be appropriate - to protect lenders and investors from the consequences of their decisions

It takes about two and a half percent growth just to keep unemployment stable.

The more important reason is that the research itself provides an important long-run perspective on the issues that we face on a day-to-day basis.

Investment banks manage to go bankrupt through their investment-banking activities, commercial banks manage to go bankrupt through their commercial-banking activities.

Education - lifelong education for everyone - from toddlers to workers well advanced in their careers - is indeed an excellent investment for individuals and society as a whole.

The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.

The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.