The Central Bank Needs To Be Able

If Current Trends Continue, The Typical U.s. Worker Will Be Considerably More Productive Several Decades From Now. Thus, One Might Argue That Letting Future Generations Bear The Burden Of Population Aging Is Appropriate, As They Will Likely Be Richer Than We Are Even Taking That Burden Into Account.

It's True That The Federal Reserve Faces A Lot Of Political Pressure And Is Unpopular In Many Circles.

The U.s. Government Has A Technology, Called A Printing Press (or, Today, Its Electronic Equivalent), That Allows It To Produce As Many U.s. Dollars As It Wishes At Essentially No Cost.

Every Effort Needs To Be Made To Try And Offset The Costs Of Katrina And Rita By Reductions In Other Government Programs, Especially Those That Are Wasteful, Duplicative And Ineffective.

The More Important Reason Is That The Research Itself Provides An Important Long-run Perspective On The Issues That We Face On A Day-to-day Basis.