Higher energy prices act like a tax.

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.

We can get more energy out of the north slope of Alaska; we have available the ability to make ourselves less dependent on those uncertain sources of supply from the Middle East. And it's important we do that.

Higher energy prices act like a tax.

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.

Everybody you talk to about insurance says the insurance market has become a lot more vibrant as a result of lifting, allowing the foreign direct investment.

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