Quotes from Kevin Hassett

The term 'business cycle' is imprecise. Economic fluctuations affect everyone, not just businesses, and they are, unlike astral cycles, anything but regular.

Given the importance of Washington, outsiders probably have an unrealistic perspective on how large the city is. The fact is, Washington D.C. is a small town, and most everyone knows most everyone else. That person of the other party who you despise will someday be at your daughter's birthday party.

If you look at the geographic variation in long-term unemployment, it's really striking. There are pockets where employers don't want to go, but for some reason, in part because of adequate safety nets, people don't want to leave.