On the economy, in my humble opinion we're not yet into the virtuous cycle where we can count on above-trend growth to generate jobs, which boosts paychecks, which supports consumption, which signals investors to get into the game, which leads to more growth, etc. But we're headed there. The best evidence for that is the improving job market -- but this remains fragile, and risk factors lurk out there. At this point, what worries me most is the lack of a public policy cushion such that if one of those risk factors flared up, we could count on policy makers to fight back. Jeez... imagine that.

Recent turbulence in financial markets and increased risks in the global economy mean that the 2011 Annual Meetings of the IMF and World Bank are taking place at a critical time for the global economy.

The price we pay at the pump may eventually take a toll on the economic recovery. The Financial Times reports this morning which suggests that "High...

WASHINGTON — The head of the International Monetary Fund says that while the global economy is recovering at a sluggish pace, the recovery remai...