Ben Bernanke Quotes
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There are various estimates about the third quarter impact, ... Our CEA (Council of Economic Advisers) numbers are somewhere between a half and one percentage point on growth. That would still probably leave us at a decent rate of growth for the third quarter.
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But again, I remain optimistic that the impact on energy from these two events will be limited.
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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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Roger made invaluable contributions to the Federal Reserve and to the country.
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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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In fact, the world needs more nerds.
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This necessary spending should not, however, jeopardize the president' long-term deficit-reduction goals.
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Preventing liquidation of an unbalanced market will leave you in tears.
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Following an extended boom in housing, the demand for homes began to weaken in mid-2005. By the middle of 2006, sales of both new and existing homes had fallen about 15 percent below their peak levels. Homebuilders responded to the fall in demand by sharply curtailing construction.
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I served seven years as the chair of the Princeton economics department where I had responsibility for major policy decisions, such as whether to serve bagels or doughnuts at the department coffee hour.
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To return to levels consistent with price stability in coming quarters.
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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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Rents should begin to decelerate as the demand for owner-occupied housing stabilizes and the supply of rental units increases.
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The risk exists that, with aggregate demand exhibiting considerable momentum, output could overshoot its sustainable path, leading ultimately in the absence of countervailing monetary policy action to further upward pressure on inflation.
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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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The best solution to income inequality is providing a high-quality education for everybody. In our highly technological, globalized economy, people without education will not be able to improve their economic situation.
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If your uniform isn't dirty, you haven't been in the game.
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I don't think that Chinese ownership of U.S. assets is so large as to put our country at risk economically.
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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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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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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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Inflation is not even a remote risk in the U.S.. Because inflation is so low, monetary policy can afford to be patient to be sure that the recovery is sustained.
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The failure of Lehman Brothers demonstrated that liquidity provision by the Federal Reserve would not be sufficient to stop the crisis; substantial fiscal resources were necessary.
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Achieving price stability is not only important in itself, it is also central to attaining the Federal Reserve's other mandate objectives of maximum sustainable employment and moderate long-term interest rates.