The risk that the economy has entered a substantial downturn appears to have diminished over the past month or so.

Monetary policy is not a panacea.

Every effort needs to be made to try and offset the costs of Katrina and Rita by reductions in other government programs, especially those that are wasteful, duplicative and ineffective.

I think that having good data, good statistics-and the United States generally has better macroeconomic statistics than most countries-and having good economists to interpret those data and present the policy alternatives, has a substantially beneficial effect on policymaking in the United States.

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 must be awfully frustrating to get a small raise at work and then have it all eaten by a higher cost of commuting.

The Federal Reserve is not currently forecasting a recession.