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

If you are not happy with yourself, even the loftiest achievements won't bring you much satisfaction.

The Fed is totally open.

The crisis in Europe has affected the US economy by acting as a drag on our exports, weighing on business and consumer confidence and pressuring US financial markets and institutions.

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

Weaker currencies abroad mean a strong dollar, and a stronger dollar, together with a weak global environment, is a drag on the U.S. economy. So it's important, as it affects overall levels of production and employment in the U.S. There are many domestic industries doing well in the United States, notwithstanding a strong dollar.

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