Ben Bernanke Quotes
-
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.
-
September and October of 2008 was the worst financial crisis in global history, including the Great Depression.
-
The role of liquidity in systemic events provides yet another reason why, in the future, a more system wide or macroprudential approach to regulation is needed.
-
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.
-
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.
-
How much would you pay to avoid a second Depression?
-
I don't see any significant risk of a recession.
-
The stress on the financial system in the fall of 2007 was significant, but not so significant as to threaten the overall stability of the U.S. economy, although it did lead to the beginning of a recession at the end of 2007.
-
The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.
-
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.
-
The Federal Reserve has never suffered any losses in the course of its normal lending to banks and, now, to primary dealers.
-
This necessary spending should not, however, jeopardize the president' long-term deficit-reduction goals.
-
If two people always agree, one of them is redundant.
-
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.
-
Long-term unemployment is particularly costly to those directly affected, of course. But in addition, because of its negative effects on workers' skills and attachment to the labor force, long-term unemployment may ultimately reduce the productive capacity of our economy.
-
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.
-
A very important factor is the fact that inflation expectations are well-controlled and well-contained, which means that the Federal Reserve, unlike the 70s, doesn't have to react violently in terms of raising interest rates to contain the second- and third-round inflationary impacts. So I remain pretty optimistic about the economy.
-
Preventing liquidation of an unbalanced market will leave you in tears.
-
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.
-
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.
-
To return to levels consistent with price stability in coming quarters.
-
Roger made invaluable contributions to the Federal Reserve and to the country.
-
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.
-
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!'