Ben Bernanke Quotes
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If the fiscal cliff occurs, I don't think the Federal Reserve has the tools to offset that event.
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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.
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If you're in a car crash, you're mostly involved in trying to not go off the bridge, and later on you say, 'Oh my God!'
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It's true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles.
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I don't know why there aren't more Depression buffs.
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To be sure, faster growth in nominal labor compensation does not necessarily portend higher inflation.
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Well, optimism's a good thing. It - makes people go out and - you know, start businesses and spend and do whatever is necessary to get the economy going.
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Over the past decade a combination of diverse forces has created a significant increase in the global supply of saving -- a global saving glut.
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Over the years, the U.S. economy has shown a remarkable ability to absorb shocks of all kinds, to recover, and to continue to grow. Flexible and efficient markets for labor and capital, an entrepreneurial tradition, and a general willingness to tolerate and even embrace technological and economic change all contribute to this resiliency.
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Our understanding of the best practice in monetary policy evolved during Alan Greenspan's tenure at the Fed, and it will continue to evolve in the future.
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This necessary spending should not, however, jeopardize the president' long-term deficit-reduction goals.
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The inflation objective is explicitly a long-term or medium term objective. It focuses on, for example, core inflation to avoid getting involved in short-term fluctuations in energy prices and the like.
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Roger made invaluable contributions to the Federal Reserve and to the country.
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Low marginal tax rates are supportive of economic growth. I would submit that we would want to look very hard at government spending - make sure it's controlled - before we raise taxes, which, in turn, would have negative impacts on the economy.
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Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past were wrong. About the future, not so much.
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September and October of 2008 was the worst financial crisis in global history, including the Great Depression.
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Many savers are also homeowners; indeed, a family's home may be its most important financial asset. Many savers are working, or would like to be.
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The credibility has begun to inure in the institution. Keeping inflation low and stable is an important precondition for a healthy and sustained economic growth.
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There's always the possibility that, if there's sufficient uncertainty that we may choose to pause simply to gain more information, to learn better what the true risks are and how the economy's actually evolving.
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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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There appears to be some possibility that the recent trend toward disinflation will continue, primarily because of the potentially large amount of economic slack in the system.
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Our mission, as set forth by the Congress is a critical one: to preserve price stability, to foster maximum sustainable growth in output and employment, and to promote a stable and efficient financial system that serves all Americans well and fairly.
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I don't see any significant risk of a recession.
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The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.