Monetary Policy Itself Cannot Sensibly Be Directed

Monetary Policy Itself Cannot Sensibly Be Directed At Reducing Imbalances.

I Believe Deeply That It's Very Important To The United States, To The Economic Health Of The United States, That We Maintain A Strong Dollar.

If You Don't Try To Generate More Revenues Through Tax Reform, If You Don't Ask, You Know, The Most Fortunate Americans To Bear A Slightly Larger Burden Of The Privilege Of Being An American, Then You Have To - The Only Way To Achieve Fiscal Sustainability Is Through Unacceptably Deep Cuts In Benefits For Middle Class Seniors, Or Unacceptably Deep Cuts In National Security.

This Crisis Is Not Simply A More Severe Version Of The Usual Business Cycle Recession, The Typical Downturn In Which Economies Ultimately Adjust And Stabilize.

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.