My preference is for the Federal Reserve to be the systemic risk regulator, because the responsibility for identifying and limiting potential problems is a natural complement to its role in monetary policy.
As financial markets continue to broaden and deepen, the behavior of asset prices will play an important role in the formulation of monetary policy going forward, perhaps a more important role than in the past.
The fallacy of monetary policy in the U.S. is to believe this money will go to the man on the street. It won't. It goes to the Mayfair economy of the well-to-do people and boosts asset prices of Warhols... Very happy. Very good for the Fed. Congratul...
The monetary policy of the United States has a major impact on global liquidity and capital flows and therefore, the liquidity of the U.S. dollar should be kept at a reasonable and stable level.
Monetary policy cannot do much about long-run growth, all we can try to do is to try to smooth out periods where the economy is depressed because of lack of demand.
That means following a very restrictive fiscal and monetary policy which will squeeze the monopolies and cut their subsidies. On the micro level we will allow other economic agents, both domestic and foreign, to compete with them.
A lot of joblessness in the black community doesn't seem to be reachable through fiscal and monetary policies. People have not been drawn into the labor market even during periods of economic recovery.
Now, McDonald's is a very good indicator of the global economy. If McDonald's doesn't increase its sales, it tells you that the monetary policies have largely failed in the sense that prices are going up more than disposable income, and so people hav...
Well, I think as long as people are talking about stimulus, I think the Fed will be thinking about cutting rates because monetary policy is the better way to go because you can turn it on and turn it off.
I believe, unlike people that are totally free-market, laissez-faire fundamentalists, that there is an important role that the government can play - one, in providing public goods, whether it's education, health care, or other things, and two, superv...
Economics should be defined in terms of what it is about. It should be about how people produce things, how people exchange them, how people earn income, how they pay taxes, how the government provides infrastructure with tax revenue, and how it cond...
If I am confirmed, I am confident that my colleagues on the Federal Open Market Committee and I will maintain the focus on long-term price stability as monetary policy's greatest contribution to general economic prosperity and maximum employment.
Verbal fraud is worse than monetary fraud.
The long run is a misleading guide to current affairs. In the long run we are all dead.
This book (Jarod Kintz's book) is trash. I mean, I assume it is, because that's where I found it while scrounging for lunch. However, I must admit that I haven't read it. I would have, but I am homeless, mainly due to my illiteracy (though Big Govern...
You can have the love you want, if you can afford its price tag. For every love has its price, monetary or non-monetary.
Foreign policy is inseparable from domestic policy now. Is terrorism foreign policy or domestic policy? It's both. It's the same with crime, with the economy, climate change.
Bush promised a foreign policy of humility and a domestic policy of compassion. He has given us a foreign policy of arrogance and a domestic policy that is cynical, myopic and cruel.
Foreign policy is really domestic policy with its hat on.
Domestic policy can only defeat us; foreign policy can kill us.
Our policy is very clear: whatever policy will suit the people, whatever policy will suit the circumstances, whatever policy will suit my state.
