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.

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.

Well, I think the global economy is in the position for continuing good growth with inflation well in check.

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. They reduce the disposable income people have available for other things after they've paid their energy bills.

And one of our points of continuing conversation with our trading partners is the urgency of their taking steps to remove barriers to their improved growth performance.

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.