Most Consequential Choices Involve Shades

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

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 Substantial Uncertainty About The Path Of Asset Price Movements Going Forward Necessarily Reduces The Case For Altering Policy In Advance Of The Move.

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.

We Have Parts Of Our System Which Are Overwhelmed By Regulation. It Wasn't The Absence Of Regulation That Was The Problem. It Was Despite The Presence Of Regulation You Got Huge Risks Built Up.