The tax code is very inefficient. Both the personal tax code and the corporate tax code. By closing loopholes and lowering rates, you could increase the efficiency of the tax code and create more incentives for people to invest.
Monetary policy is a blunt tool which certainly affects the distribution of income and wealth, although whether the net effect is to increase or reduce inequality is not clear.
Over the past decade a combination of diverse forces has created a significant increase in the global supply of saving -- a global saving glut,
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.
There will not be an automatic increase in interest rate when unemployment hits 6.5%.
Stronger regulation and supervision aimed at problems with underwriting practices and lenders' risk management would have been a more effective and surgical approach to constraining the housing bubble than a general increase in interest rates.
can account for the bulk of the recent increase in the real price of gold.
Because a person has to be either working or looking for work to be counted as part of the labor force, an increase in the number of people too discouraged to continue their search for work would reduce the unemployment rate, all else being equal - but not for a positive reason.