The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.

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

I don't fully understand movements in the gold price.

There's no denying that a collapse in stock prices today would pose serious macroeconomic challenges for the United States. Consumer spending would slow, and the U.S. economy would become less of a magnet for foreign investors. Economic growth, which in any case has recently been at unsustainable levels, would decline somewhat. History proves, however, that a smart central bank can protect the economy and the financial sector from the nastier side effects of a stock market collapse.

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

The Federal Reserve will not monetize the debt.

[Virtual Currencies] may hold long-term promise, particularly if the innovations Promote a faster, more secure and more efficient payment system.