Bill Foster: “We must seize the opportunity to build upon what we've learned.”

Frankly, when I read about this, it triggered my PTSD from the AIG situation with credit default swaps during the financial crisis.

While the Presidency is often the focus of political pronouncements about macroeconomic conditions, there is no question that it undersells the importance and the independence of the work of the Federal Reserve Board.

The good news is that macroeconomic policy is working as designed.

I think it is my personal goal to die before we have another financial crisis, and then I will be doing my job well.