“The central bank needs to be able to make policy without short term political concerns.”

Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past were wrong. About the future, not so much.

The economist John Maynard Keynes said that in the long run, we are all dead. If he were around today he might say that, in the long run, we are all on Social Security and Medicare.

Not all information is beneficial.

So it’s important, as it affects overall levels of production and employment in the U.S. There are many domestic industries doing well in the United States, notwithstanding a strong dollar.

I and others were mistaken early on in saying that the subprime crisis would be contained. The causal relationship between the housing problem and the broad financial system was very complex and difficult to predict.

Under current law, on January 1, 2013, there’s going to be a massive fiscal cliff of large spending cuts and tax increases.

The people who best use their advantages, or overcome adversity, and work honestly are those most worthy of admiration.

The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.

We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.

I served seven years as the chair of the Princeton economics department where I had responsibility for major policy decisions, such as whether to serve bagels or doughnuts at the department coffee hour.

[Virtual Currencies] may hold long-term promise, particularly if the innovations Promote a faster, more secure and more efficient payment system.

Monetary policy cannot do much about long-run growth, all we can try to do is to try to smooth out periods where the economy is depressed because of lack of demand

Importantly, in the 1930s, in the Great Depression, the Federal Reserve, despite its mandate, was quite passive and, as a result, financial crisis became very severe, lasted essentially from 1929 to 1933.

The GSEs are adequately capitalized. They are in no danger of failing.

Speaking as somebody who has been happily married for 35 years, I can’t imagine any choice more consequential for a lifelong journey than the choice of a traveling companion.

Weaker currencies abroad mean a strong dollar, and a stronger dollar, together with a weak global environment, is a drag on the U.S. econom.

Actors are always outsiders. It’s necessary to be able to interpret – and that gets distorted when you become famous.

Kept me in a constant state of anxiety as to whether I am going to be able to meet my financial obligations.

You have to be able to tap your foot or else none of what you doing you are not gonna have any control of your symptom.

The term power comes from the Latin posse- to do, to be able, to change, to influence or effect.

Part of the middle class promise is that, after a lifetime of hard work, you’ll be able to retire and enjoy the fruits of that labor.

Which is why I think any loving, committed couple — gay or straight — should be able to get married.

We’re all fortunate to be able to be doing this for a living, so we’re just grateful to be here and we just do what we do and we let the people decide.

Each one of us has his own place in the industry. I’ve been able to prove that you don’t necessarily have to be a Khan to be successful!