It's really just a waiting game. You can't expect excesses to be done correcting just because you want them to be done correcting.

It's generally the case that if you push through tax cuts, over time, it will stimulate activity; and as growth accelerates, you'll start to get revenue increases back.

It's surprising that out of all the commentary you read on what's happening, nobody thinks it's just a basic inflationary story.

I feel strongly that a ham sandwich with a scepter would be a fine Fed chairman. In fact, I think a ham sandwich with a scepter might do a better job because it wouldn't be politically motivated.

It seems to me that markets aren't going to be too happy if its just a replacement thing.

People are becoming more accepting of a slow, gradual recovery, whereas last year, they had great growth numbers in mind, and when that didn't pan out, markets got hit hard. As long as data don't indicate a new round of fundamental economic deterioration, we're still on the same growth track.