Over the years, the U.S. economy has shown a remarkable ability to absorb shocks of all kinds, to recover, and to continue to grow.

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

We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.

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.

Over the years, the U.S. economy has shown a remarkable ability to absorb shocks of all kinds, to recover, and to continue to grow.

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.

Developments in financial markets can have broad economic effects felt by many outside the markets.