There is no honeymoon -- not in a financial system like ours, not in this country where people are free to take risks and reap the consequences.

202

All of the sudden, there was political support for the notion that inflation was not just a tax, but a virus that attacks an economy.

189

At the same time, the yield curve is flat and actually has the potential to invert. An inverted yield curve has often been a precursor to a recession occurring within a year.

182

The rapid easing of monetary and fiscal policy this time around should enable the economy to return to positive growth more quickly than usual and with lower interest rates and inflation than during the 1990s expansion.

169

You had to admire him. He had a very tough job to do.

163

The September 11 attacks pushed the U.S. economy into a recession that will be mild both in depth and duration.

161

The Federal Reserve has been going through a tightening cycle. Whenever the Fed tightens, whatever financial fragilities there are in the economy are going to get exacerbated.

122

If you look at the record, at how the U.S. has weathered shocks, we have a very, very resilient economy. Initial conditions matter.

117