The housing boom will inevitably simmer down, ... As part of that process, house turnover will decline from currently historic levels, while home price increases will slow and prices could even decrease.

It is still too early to judge whether the froth will become evident on a widening geographic scale or whether recent indications of some easing of speculative pressures signal the onset of a moderating trend,

After the fact, we will look back on the Enron episode as a period when we put corporate governance back on track, ... That is favorable to the long-term outlook. If it were going to have significant impact on the economy in the short run, we'd already be seeing it, and we are not.

Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.

The one certainty is that the resolution of the nation's demographic challenge will require hard choices and that the future performance of the economy will depend on those choices.

It's hard to tell which assets will be toxic. The best way to ensure that only shareholders and banks feel it is have adequate capital.