Although Low Inflation Is Generally Good, Inflation

The Financial Crisis Appears To Be Mostly Behind Us, And The Economy Seems To Have Stabilized And Is Expanding Again.

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

If Wall Street Crashes, Does Main Street Follow? Not Necessarily.

Monetary Policy Is Not A Panacea.

The Best Approach Here, If At All Possible, Is To Use Supervisory And Regulatory Methods To Restrain Undue Risk-taking And To Make Sure The System Is Resilient In Case An Asset-price Bubble Bursts In The Future.