The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed, |
The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses, ... With the rapid adoption of information technology, the share of output that is conceptual rather than physical continues to grow. |
the recent surge in energy prices will undoubtedly be a drag (on the economy) from now on. |
The remarkable American economy, whose roots are still not conclusively known, and the Asian crises that caught us by surprise, among other humbling experiences, have made policy-makers particularly sensitive to how fast the world can shift beneath our feet, |
the right starting point ... is where we are. |
The scale and scope of higher education in America was being shaped by the recognition that research -- the creation of knowledge --complemented teaching and training -- the diffusion of knowledge, |
The shock of September 11, by markedly raising the degree of uncertainty about the future, has the potential to result, for a time, in pronounced disengagement from future commitments, |
The system was holding up ... the American economy kept getting battered and battered and battered and it was still standing and indeed, as of Sept. 10, it was still standing, |
The system worked. Moreover, following September 11, 2001, we found that the Y2K preparations and fixes had far-greater reach than we had realized, |
The trend of existing home sales has been relatively flat at a reasonable high level for quite a long period of time, and if we can maintain that we are doing well, |
The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake. |
The type of economy that we are dealing with at this particular stage is, I suspect, one that none of us has seen before, and indeed it may be unprecedented in our history, ... Our basic purpose is to keep that process going. |
The U.S. economy appears to have withstood a set of blows -- major declines in equity markets, a sharp retrenchment in investment spending, and the tragic terrorist attacks of last September -- that in previous business cycles almost surely would have induced a severe contraction, |
The United States has been in the forefront of the postwar opening up of international markets, much to our, and the rest of the world's, benefit, ... It would be a great tragedy were that process reversed. |
The United States is currently in its ninth year of economic expansion, an exemplary accomplishment by any standard. Growth of output has remained vigorous, unemployment is lower than it has been in nearly thirty years, and yet, despite the tautness in labor markets, there have been no obvious signs of emerging inflation pressures, |