Evolving technologies that allow economists to gather new types of data and to manipulate millions of data points are just one factor among several that are likely to transform the field in coming years.

In a slow-growing world that is short on aggregate demand, Germany's trade surplus is a problem.

The Fed's independence is critical.

In the past, Federal Reserve chairmen have not generally gone directly to the public.

All through the years since World War II, the Japanese people have, I am convinced, made strenuous efforts to preserve and promote world peace, contributing to the progress and prosperity of mankind.

There was the situation in Nicaragua where the Sandinistas had taken over a couple of years earlier. There was a civil war going on in El Salvador and there was a similar situation in Guatemala. So Honduras was in a rather precarious geographic position indeed.

The creative impulses of man are always at war with the possessive impulses.

Every administration has this idea to talk tough to Israel and make nice to the Arabs and the Palestinians, and that's the way to bring about peace. It's counter-productive - it's actually the opposite.