Strapped by tight credit and plummeting sales, businesses have overhauled the way they manage supply chains, inventory, production practices, and staffing.

I am anxious to fix welfare. There has to be more training and child care.

One common way of judging whether housing's price is in line with its fundamental value is to consider the ratio of housing prices to rents. This is analogous to the ratio of prices to dividends for stocks.

To me, a wise and humane policy is occasionally to let inflation rise even when inflation is running above target.

I'm just opposed to a pure inflation-only mandate in which the only thing a central bank cares about is inflation and not employment.

Individuals out of work for an extended period can become less employable as they lose the specific skills acquired in their previous jobs and also lose the habits needed to hold down any job.

In government institutions and in teaching, you need to inspire confidence. To achieve credibility, you have to very clearly explain what you are doing and why. The same principles apply to businesses.