Well, there's no doubt about the fact that, that higher energy prices lead to greater conservation, greater energy efficiency, and they also, of course, play a useful role on the supply side.
You don't fix the problem until you define it.
Our view is that economic isolationism is the wrong way to go. Vibrant, successful growing economies that advance the interests of their citizens engage the global economy. And, we're committed to engaging the global economy.
We have the most flexible and adaptive economy. Making sure we sustain the ability of the American economy to perform well is really the priority of economic policy.
Telecom is a dramatic success in India and our view is, respecting the political process, and respecting the fact that these are sovereign decisions, is that, approaching India as a friend.
We have the deepest and most liquid capital markets in the world.
And our big theme has been, you have made so much progress, we urge you on with the openings and market openings that have occurred. They clearly work and continuing on that path will produce further growth and further opportunities for the Indian people.
And we have abundant natural energy resources in the country. We haven't been taking adequate advantage of them, and we can burn coal in a clean way; we could improve the grid.
Everybody you talk to about insurance says the insurance market has become a lot more vibrant as a result of lifting, allowing the foreign direct investment.
Well, I think the global economy is in the position for continuing good growth with inflation well in check.
But clearly an economy that's growing and expanding like this one - and it certainly is doing that with high GDP output, employment numbers strong, capacity utilization strong - that's an environment in which the Fed needs to continually be alert to early signs of inflation.
The global economy is in pretty good shape.
Well, I make a practice of not commenting on the role of the relative exchange value of our currency.
And one of our points of continuing conversation with our trading partners is the urgency of their taking steps to remove barriers to their improved growth performance.
Moderation of oil prices would be very, very welcome. But overall I think we are in a position of stable growth, sustainable growth, and basically with inflation in check.
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