Well, I think the best thing we can do for the short term is move good energy legislation through to the Congress; I'm encouraged that there's some prospect for that now.

Higher energy prices act like a tax.

Our GDP growth rates are creating - our high GDP growth rates, the success of our economy means we're creating lots of disposable income.

And we have abundant natural energy resources in the country. We haven't been taking adequate advantage of them, and we can burn coal in a clean way; we could improve the grid.

But clearly an economy that's growing and expanding like this one - and it certainly is doing that with high GDP output, employment numbers strong, capacity utilization strong - that's an environment in which the Fed needs to continually be alert to early signs of inflation.

Our view is that economic isolationism is the wrong way to go. Vibrant, successful growing economies that advance the interests of their citizens engage the global economy. And, we're committed to engaging the global economy.

And I think the American people look to the leaders to lead. They look to the leaders to take on the big problems. And the president deserves a lot of credit for doing that.