The more competitive value of the dollar turned around the trade deficit.

Domestic inflation reflects domestic monetary policy.

So just as I want pilots on the planes that I fly, when it comes to monetary policy, I want to think that there is someone with sound judgement at the controls.

The price of imported oil in the US doubled between summer 2003 and summer 2005, reducing consumers' purchasing power by more than 1 per cent of gross domestic product.

To finance this trade deficit, the U.S. has to borrow from the rest of the world or sell American assets like stocks, businesses, and real estate to the rest of the world.

Thirty years ago, many economists argued that inflation was a kind of minor inconvenience and that the cost of reducing inflation was too high a price to pay. No one would make those arguments today.

Inflation is lower and more stable and the real business cycle fluctuations are more modest.

An increase in the relative price of products from the low wage manufacturers in Asia and Latin America will also make those products less attractive to American consumers.

Unless the trade deficit shrinks, the combination of the trade deficit and the interest and dividend payments to foreigners will grow ever more rapidly.

The only way that we can reduce our financial dependence on the inflow of funds from the rest of the world is to reduce our trade deficit.

A second reason why science cannot replace judgement is the behavior of financial markets.

Life is like one big blueprint, if you don't make plans then your future will not be built

We learned pretty early on in this band that you can't have snobbery in music.

If I don't have wisdom, I can teach you only ignorance.

Now it's time for America to bind the wounds of division.

A lot of people think theatre must be much harder work than film, but anything histrionic or superfluous gets seen on camera so you have to work to distil it into a complete sense of what's true.

I think most writers feel like they're on the outside looking in much of the time... All of us feel, to a certain extent, alienated from the stuff going on around us.

I could compose and write music and get to share it with the masses and the people around the world and to have them to receive it so beautifully - I love that.

There are always a few people you do a lot for, and a few who do a lot for you, but they're not the same people.

Anger turns the mind out of doors and bolts the entrance.

My advice is don't keep asking yourself if you can do something. Just get out there and do it. You can really surprise yourself.