Doubtless, the substantial improvement in the access of business decision makers to real-time information has played a key role, ... Today, businesses have large quantities of data available virtually in real time. As a consequence, they address and resolve economic imbalances far more rapidly than in the past. |
dramatic demographic change is certain to place enormous demands on our nation's resources. |
Economic policymakers face enormous uncertainty. Economic models provide a set of useful tools to frame future outcomes, but as we were reminded repeatedly during our efforts to forecast the economy in 1974 and 1975, models can go off track in myriad ways, ... Objective and thorough analysis ... is the most effective counterweight to this challenge. |
Emperors and armies come and go, ... but unless they leave new ideas in their wake, they are of passing historic consequence. The short list of intellectuals who have materially advanced the betterment of civilization unquestionably includes Adam Smith. |
Every citizen, every citizen must count for opportunities and must be counted for our nation's well being, ... How well we prepare our resources in this area will show in how well prepared we are as a country. |
Faster economic growth, doubtless, would make deficits far easier to contain. But faster economic growth alone is not likely to be the full solution to currently projected long-term deficits. |
Financial markets, along with households and businesses, seem to be reasonably well prepared to cope with a transition to a more neutral stance of monetary policy, ... Although many factors may affect inflation in the short-run, inflation in the long-run, it is important to remind ourselves, is a monetary phenomenon. |
Firms still appear hesitant to spend and hire, and we need to remain mindful of the possibility that lingering business caution could be an impediment to improved economic performance, |
Fixed mortgage rates remain at historically low levels and thus should continue to fuel reasonably strong housing demand and, through equity extraction, to support consumer spending as well, |
For Hong Kong and Singapore, in fact, they have been able to realize the size of economy. |
For the moment, the broadly unanticipated behavior of world bond markets remains a conundrum . |
Foreign investors, both private and official, may become less willing to absorb ever-growing claims on U.S. residents, |
Fortunately, the US economy is uniquely well suited to make those adjustments. Our open labor markets can adapt to the differing needs and abilities of our older population. Our capital markets can allow for the creation and rapid adoption of new labor-saving technologies, and our open society has been receptive to immigrants. All these factors put us in a good position to adjust to the [impacts] of an aging population. |
from now on. |
fully appreciate the risk that some households may have trouble meeting monthly payments as interest rates and the macroeconomic climate change. |