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 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.

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

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.

Both humanity's capacity to innovate and the incentives to innovate are greater today than at any other time in history.

One might as well try to perform brain surgery with a sledgehammer.

Monetary policy is not a panacea.