The Fed Is Totally Open.

Weaker Currencies Abroad Mean A Strong Dollar, And A Stronger Dollar, Together With A Weak Global Environment, Is A Drag On The U.s. Economy. So It's Important, As It Affects Overall Levels Of Production And Employment In The U.s. There Are Many Domestic Industries Doing Well In The United States, Notwithstanding A Strong Dollar.

If Current Trends Continue, The Typical U.s. Worker Will Be Considerably More Productive Several Decades From Now. Thus, One Might Argue That Letting Future Generations Bear The Burden Of Population Aging Is Appropriate, As They Will Likely Be Richer Than We Are Even Taking That Burden Into Account.

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

Our Mission, As Set Forth By The Congress Is A Critical One: To Preserve Price Stability, To Foster Maximum Sustainable Growth In Output And Employment, And To Promote A Stable And Efficient Financial System That Serves All Americans Well And Fairly.

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.