Although low inflation is generally good, inflation that is too low can pose risks to the economy - especially when the economy is struggling.

If your uniform isn't dirty, you haven't been in the game.

I don't see much evidence of an equity bubble.

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.

The central bank needs to be able to make policy without short term political concerns.

Life is amazingly unpredictable; any 22-year-old who thinks they know where they will be in 10 years, much less in 30, is simply lacking imagination.

Investment banks manage to go bankrupt through their investment-banking activities, commercial banks manage to go bankrupt through their commercial-banking activities.