Ben Bernanke Quotes
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I don't know why there aren't more Depression buffs.
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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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Given the extent of the exposures of major banks around the world to A.I.G., and in light of the extreme fragility of the system, there was a significant risk that A.I.G.'s failure could have sparked a global banking panic.
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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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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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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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I'm... fairly optimistic today about the ability of the U.S. economy to absorb these body blows.
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To be sure, faster growth in nominal labor compensation does not necessarily portend higher inflation.
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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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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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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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September and October of 2008 was the worst financial crisis in global history, including the Great Depression.
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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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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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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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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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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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I don't see any significant risk of a recession.
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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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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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In fact, the world needs more nerds.
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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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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.