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To avoid large and unsustainable budget deficits, the nation will ultimately have to choose among higher taxes, modifications to entitlement programs such as Social Security and Medicare, less spending on everything else from education to defense, or some combination of the above.
Ben Bernanke -
I don't see much evidence of an equity bubble.
Ben Bernanke
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Community banks are generally doing quite well, and I expect that good performance to continue. Neither bankers nor their supervisors should become complacent.
Ben Bernanke -
The people who best use their advantages, or overcome adversity, and work honestly are those most worthy of admiration.
Ben Bernanke -
Congress had made clear that it has affirmed the principle of keeping banking and commerce separate. This loophole ... circumvents that principle. If Congress wants to revisit banking and commerce, that's their prerogative but it doesn't seem a good approach to allow a loophole in which that distinction breaks down.
Ben Bernanke -
Our financial system is so complicated and so interactive - so many different markets in different countries and so many sets of rules.
Ben Bernanke -
I will maintain the focus on long-term price stability as monetary policy's greatest contribution to general economic prosperity and maximum employment.
Ben Bernanke -
The Federal Reserve Act requires the Federal Reserve to report annually on its operations and to publish its balance sheet weekly.
Ben Bernanke
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Investment banks manage to go bankrupt through their investment-banking activities, commercial banks manage to go bankrupt through their commercial-banking activities.
Ben Bernanke -
As we try to make the financial system safer, we must inevitably confront the problem of moral hazard.
Ben Bernanke -
With such an uncertain outlook, the new statement must be flexible enough to leave officials with several options for future action.
Ben Bernanke -
The children of the unemployed achieve less in school and appear to have reduced long-term earnings prospects.
Ben Bernanke -
Middle-income living standards, and poverty for that matter, are best addressed through employment growth. By maintaining low inflation and low expectations of inflation, you can create new employment.
Ben Bernanke -
In a slow-growing world that is short on aggregate demand, Germany's trade surplus is a problem.
Ben Bernanke
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Evolving technologies that allow economists to gather new types of data and to manipulate millions of data points are just one factor among several that are likely to transform the field in coming years.
Ben Bernanke -
No economy can succeed without a high-quality workforce, particularly in an age of globalization and technical change.
Ben Bernanke -
If Wall Street crashes, does Main Street follow? Not necessarily.
Ben Bernanke -
There are a number of institutions globally where the Federal Reserve typically leads the U.S. effort to work with financial regulators from other countries, and we try to, to the extent possible, establish international standards for how - the amount of capital a bank should hold, for example, or how much.
Ben Bernanke -
I personally would have preferred if the Fed had been a little less aggressive.
Ben Bernanke -
I believe that the Federal Reserve's success in reducing and stabilizing inflation and inflation expectations is a major reason for this improved economic performance.
Ben Bernanke
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Monetary policy is not a panacea.
Ben Bernanke -
Equally important, stable prices allow people to rely on the dollar as a measure of value when making long-term contracts, engaging in long-term planning or lending for long periods.
Ben Bernanke -
One may aspire to succeed Chairman Greenspan but it will not be possible to replace him.
Ben Bernanke -
Over the past decade a combination of diverse forces has created a significant increase in the global supply of saving -- a global saving glut.
Ben Bernanke