Sector-specific price declines, uncomfortable as they may be for producers in that sector, are generally not a problem for the economy as a whole and do not constitute deflation.

History proves... that a smart central bank can protect the economy and the financial sector from the nastier side effects of a stock market collapse.

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.

Economic management involves the operation of economic frameworks in real time - for example, in the private sector, the management of complex financial institutions or, in the public sector, the day-to-day supervision of those institutions.

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