Ben Bernanke Quotes
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It must be awfully frustrating to get a small raise at work and then have it all eaten by a higher cost of commuting.
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Given the central role of effective, firmwide risk management in maintaining strong financial institutions, it is clear that supervisors must redouble their efforts to help organizations improve their risk-management practices...We are also considering the need for additional or revised supervisory guidance regarding various aspects of risk management, including further emphasis on the need for an enterprise-wide perspective when assessing risk.
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To minimize market uncertainty and achieve the maximum effect of its policies, the Federal Reserve is committed to providing the public as much information as possible about the uses of its balance sheet, plans regarding future uses of its balance sheet, and the criteria on which the relevant decisions are based.
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These inflation effects should fade even if energy prices remain elevated, so long as monetary policy keeps inflation expectations well-anchored.
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Now that I'm a civilian again, I can once more comment on economic and financial issues without my words being put under the microscope by Fed watchers.
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No one will lend at a negative interest rate; potential creditors will simply choose to hold cash, which pays zero nominal interest.
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The financial crisis appears to be mostly behind us, and the economy seems to have stabilized and is expanding again.
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At some point in the future, the committee may decide to take no action at one or more meetings in the interest of allowing more time to receive information relevant to the outlook.
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How much would you pay to avoid a second Depression?
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So far, the effects appear to be relatively modest on growth.
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So far, the actual actions taken have been relatively modest, but there is some hope, I think, that, going forward, these actions will advance further and we will see more progress in the current account.
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Has set the standard for excellence in economic policy-making.
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Consumers going through foreclosure typically will see their credit scores drop, raising longer-term questions about their ability to rebound financially and perhaps pursue a more sustainable home purchase at some later point.
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As long as we find that the energy impact is only temporary ... my guess is that the effects on the overall economy will be fairly modest.
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In any given month, a large number of workers are being hired or are leaving their current jobs, illustrating the dynamism of the U.S. labor market.
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The high energy prices are certainly burdening consumer budgets, they are burdening cost structures of firms and certainly continued increases in energy prices are a risk for economic growth going forward.
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The tax code is very inefficient. Both the personal tax code and the corporate tax code. By closing loopholes and lowering rates, you could increase the efficiency of the tax code and create more incentives for people to invest.
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In the absence of a shift in market perceptions of the relative attractiveness of U.S. and foreign assets, government policies would likely have only limited effects on the trade balance.
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As you know, in the latter part of 2008 and early 2009, the Federal Reserve took extraordinary steps to provide liquidity and support credit market functioning, including the establishment of a number of emergency lending facilities and the creation or extension of currency swap agreements with 14 central banks around the world.
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The biggest downside of my current job is that I have to wear a suit to work. Wearing uncomfortable clothes on purpose is an example of what former Princeton hockey player and Nobel Prize winner Michael Spence taught economists to call 'signaling.'
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Our assessment currently is that the risks to inflation are perhaps the more significant at the moment, and we need to address that.
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There's no magical relationship between inverted yield curves and recession. There's a debate why long-term rates are so low. It's partly a low term premium and a lot of saving looking for a relatively limited number of investments.
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The impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained.
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Because a person has to be either working or looking for work to be counted as part of the labor force, an increase in the number of people too discouraged to continue their search for work would reduce the unemployment rate, all else being equal - but not for a positive reason.