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.

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.

Not all information is beneficial.

If Wall Street crashes, does Main Street follow? Not necessarily.

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.

The risk that the economy has entered a substantial downturn appears to have diminished over the past month or so.

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