The Impact On The Broader Economy And

The Basic Prescription For Preventing Deflation Is Therefore Straightforward, At Least In Principle: Use Monetary And Fiscal Policy As Needed To Support Aggregate Spending, In A Manner As Nearly Consistent As Possible With Full Utilization Of Economic Resources And Low And Stable Inflation. In Other Words, The Best Way To Get Out Of Trouble Is Not To Get Into It In The First Place.

The American People Are Among The Most Productive In The World. We Have The Best Technologies. We Have - Great Universities. We Have Entrepreneurs.

The Central Bank Needs To Be Able To Make Policy Without Short Term Political Concerns.

Investment Banks Manage To Go Bankrupt Through Their Investment-banking Activities, Commercial Banks Manage To Go Bankrupt Through Their Commercial-banking Activities.

House Prices Have Risen By Nearly 25 Percent Over The Past Two Years. Although Speculative Activity Has Increased In Some Areas, At A National Level These Price Increases Largely Reflect Strong Economic Fundamentals.