Ben Bernanke Quotes
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Under current law, on January 1st, 2013, there is going to be a massive fiscal cliff of large spending cuts and tax increases.
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One would be forgiven for concluding that the assumed benefits of financial innovation are not all they were cracked up to be.
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The greatest single cause of the fiscal surplus of the 1990s was the stock market bubble, which led to an unsustainably high level of economic activity and tax revenues.
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The decline in home equity makes it more difficult for struggling homeowners to refinance and reduces the financial incentive of stressed borrowers to remain in their homes.
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The Mexican debt crisis, Latin American debt crisis, the crises of the 1990s, the Wall Street stock market crash, and other events should have reminded us, and did remind us, that financial instability remains a concern, remains a problem.
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I am confident that we will meet whatever challenges the future may bring.
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If you are not happy with yourself, even the loftiest achievements won't bring you much satisfaction.
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In the tradition of national income accounting, economic policymakers have typically focused on variables such as income, wealth, and consumption.
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The more important reason is that the research itself provides an important long-run perspective on the issues that we face on a day-to-day basis.
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However, more recently, there have been signs of some easing of underwriting standards.
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In a mature economy like India's, which is becoming modern and a financially-oriented economy, an independent central bank, responsible central bank, is really central to success.
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A collapse in U.S. stock prices certainly would cause a lot of white knuckles on Wall Street.
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If Australia finds it has a strong Australian dollar, and it has higher unemployment, then it would have to respond, and that would either be by increasing domestic demand or by weakening its own currency.
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I don't think there are any students who should not be exposed to a basic financial literacy course.
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The Federal Reserve cannot solve all the economy's problems on its own.
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In the past, Federal Reserve chairmen have not generally gone directly to the public.
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As we look ahead, core inflation appears likely to remain in the zone of price stability during the remainder of 2004 and into 2005.
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When historical relationships are taken into account, it is difficult to ascribe the house price bubble either to monetary policy or to the broader macroeconomic environment.
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Since World War II, inflation - the apparently inexorable rise in the prices of goods and services - has been the bane of central bankers.
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The most recent evidence ... suggests that the economic expansion remains on track.
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Home purchases that are very highly leveraged or unaffordable subject the borrower and lender to a great deal of risk. Moreover, even in a strong economy, unforeseen life events and risks in local real estate markets make highly leveraged borrowers vulnerable.
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Every effort needs to be made to try and offset the costs of Katrina and Rita by reductions in other government programs, especially those that are wasteful, duplicative and ineffective.
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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.
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Economics is a very difficult subject. I've compared it to trying to learn how to repair a car when the engine is running.