With its interest rate instrument at the zero lower bound, the Federal Open Market Committee has turned to unconventional methods to stimulate economic growth and increase employment. Prominent among these is quantitative easing (QE)—the purchase of a large quantity of longer-term debt....

The excess supply of commercial and residential real estate might explain why the historically low nominal and real interest rates have had relatively little effect on stimulating investment.

Economic growth requires more labor, more and better capital, and up-to date technology—what might be collectively referred to as social infrastructure— to support entrepreneurship and efficient markets. It is hardly surprising that periods of more-rapid economic growth include invention,...

Many analysts fear that a rising saving rate could hamper the economic recovery.

A speech at the Global Interdependence Center (GIC) Abroad in Chile Conference, Universidad Adolfo Ibanez, Santiago, Chile, March 5, 2007

Address before AAIM Management Association, St. Louis, MO - Dec. 20, 2002

Presentation at Lincoln University, Jefferson City, Mo., Oct. 4, 2004

Presentation to the Growing Global Program with the World Trade Center St. Louis, St. Louis, Sept. 10, 2004