Unfortunately, not all sectors are regaining traction nearly as quickly; the leisure sector and the travel industry, for instance, are lagging behind. In addition, this much is true: our open economy can only fully recover if our trading partners also get back on their feet. Overall, the expected very strong growth in the summer months should not create false hopes.
Then I’ll turn to the economy and monetary policy. Regulatory choices On March 6, 2009, I gave a speech in Omaha called “Too Big Has Failed.” I shared my thoughts about the financial crisis and my concern for the long-run effects of bailing out investors of the largest financial institutions.