A gold standard doesn't imply stability in the prices of the goods and services that people buy every day, it implies a stability in the price of gold itself.

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.

Under current law, on January 1, 2013, there's going to be a massive fiscal cliff of large spending cuts and tax increases.

The sources of deflation are not a mystery. Deflation is in almost all cases a side effect of a collapse of aggregate demand.. a drop in spending so severe that producers must cut prices on an ongoing basis in order to find buyers.

The Federal Reserve is not currently forecasting a recession.

Monetary policy is not a panacea.

The Federal Reserve will not monetize the debt.