History has demonstrated time and again the inherent resilience and recuperative powers of the American economy.

Even if the economy recovers smartly for the rest of this year and the next, the ongoing slack in the economy may still lead to continuing disinflation,

It's been a resilient economy, it's responded well and job creation has proceeded apace.

So the American economy needs the world, and the world needs the American economy.

The economy is much more energy efficient today than it was in the 1970s when energy shocks contributed to share slowdowns,

According to government ethics rules ... it is permissible for a retired (Fed) governor to speak in public about the economy so long as he or she does not divulge confidential information. I have no indication that he has violated that rule.