The Government Can Help, But We Need

Monetary Policy Itself Cannot Sensibly Be Directed At Reducing Imbalances.

The Plausible Outcomes Range From The Gradual And Benign To The More Precipitous And Damaging.

The Major Economic Policy Challenges Facing The Nation Today - Pick Your Favorites Among The Usual Suspects Of Low Public And Household Savings, Concerns About Educational Quality And Achievement, High And Rising Income Inequality, The Large Imbalances Between Our Social Insurance Commitments And Resources - Are Not About Monetary Policy.

Most Consequential Choices Involve Shades Of Gray, And Some Fog Is Often Useful In Getting Things Done

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.