The French, unfortunately, actually believe what they say, and that has been very destructive.

I admit it: I had fun watching right-wingers go wild as health reform finally became law.

People who are complaining about the Fed are people who've been predicting runaway inflation for five and six years, and it hasn't happened.

Generous unemployment benefits can increase both structural and frictional unemployment. So government policies intended to help workers can have the undesirable side effect of raising the natural rate of unemployment.

There's one thing that the Fed has been really good at cracking down on, and that's inflation.

If you are a good economist, a virtuous economist, you are reborn as a physicist. But if you are an evil, wicked economist, you are reborn as a sociologist.

If you're doing your job right, some substantial group of people [is] going to be mad at you.