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.

We’ve never had a decline in house prices on a nationwide basis. So, what I think what is more likely is that house prices will slow, maybe stabilize, might slow consumption spending a bit. I don’t think it’s going to drive the economy too far from its full employment path, though.

The Federal Reserve is not currently forecasting a recession.

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

I come from Main Street, from a small town that's really depressed.

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

September and October of 2008 was the worst financial crisis in global history, including the Great Depression.