The prospective increase in the budget deficit will place at risk future living standards of our country. As a result, I think it would be very desirable to take concrete steps to lower the prospective path of the deficit. |
The public has shown confidence that any increases in inflation will be temporary and that, in the long run, inflation will remain low. |
The resilience of the economy ... is helping it to absorb the shocks to energy and transportation from the hurricanes. |
The risk exists that, with aggregate demand exhibiting considerable momentum, output could overshoot its sustainable path, leading ultimately in the absence of countervailing monetary policy action to further upward pressure on inflation. |
The U.S. economy is in the midst of a strong and sustainable economic expansion. |
The U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost, |
There appears to be some possibility that the recent trend toward disinflation will continue, primarily because of the potentially large amount of economic slack in the system, |
There are some petroleum refineries that don't have crude and by allowing them to draw from the Strategic Petroleum Reserve they will be able to produce more gasoline. |
There are two possible mistakes: One is to go on too long, and one is not to go on long enough. And, it's a very difficult balancing act. |
There are various estimates about the third quarter impact, ... Our CEA (Council of Economic Advisers) numbers are somewhere between a half and one percentage point on growth. That would still probably leave us at a decent rate of growth for the third quarter. |
There are various estimates about the third quarter impact. Our CEA (Council of Economic Advisers) numbers are somewhere between a half and one percentage point on growth. That would still probably leave us at a decent rate of growth for the third quarter. |
There is a deficit; I'd like to see it lowered. But it's up to Congress to decide whether that should be done by higher taxes, lower spending or some combination. |
There is of course the direct impact of the shutting down of the U.S. economy, the loss of several hundred thousand jobs at least, and reduced output production in the Gulf, |
There's always the possibility that, if there's sufficient uncertainty that we may choose to pause simply to gain more information, to learn better what the true risks are and how the economy's actually evolving. |
There's going to be a big impact there for a number of weeks. It's big enough to show up in the national statistics. |