I Believe Deeply That It's

The Recognition That Things That Are Not Sustainable Will Eventually Come To An End Does Not Give Us Much Of A Guide To Whether The Transition Will Be Calm Or Exciting.

Hyperinflation Is Not Going To Happen In This Country, Will Never Happen... The Fed Putting So Much Money Into The System Is Not Going To Create The Risk Of Hyperinflation In The Future. We Have A Strong Independent Federal Reserve With A Very Strong Mandate From The Congress, And They Will Do What's Necessary To Keep Inflation Low And Stable Over Time.

In The Financial System We Have Today, With Less Risk Concentrated In Banks, The Probability Of Systemic Financial Crises May Be Lower Than In Traditional Bank-centered Financial Systems

The Plausible Outcomes Range From The Gradual And Benign To The More Precipitous And Damaging.

As Financial Markets Continue To Broaden And Deepen, The Behavior Of Asset Prices Will Play An Important Role In The Formulation Of Monetary Policy Going Forward, Perhaps A More Important Role Than In The Past.