Ben Bernanke Quotes
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Even if the economy recovers smartly for the rest of this year and the next, the ongoing slack in the economy may still lead to continuing disinflation.
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This necessary spending should not, however, jeopardize the president' long-term deficit-reduction goals.
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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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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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There are some petroleum refineries that don't have crude and by allowing them to draw from the Strategic Petroleum Reserve they will be able to produce more gasoline.
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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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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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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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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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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 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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The Federal Reserve, like other central banks, wields powerful tools; democratic accountability requires that the public be able to see how and for what purposes those tools are being used.
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I am very proud of my nerd-dom.
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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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Most of the policies that support robust economic growth in the long run are outside the prov.
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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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But again, I remain optimistic that the impact on energy from these two events will be limited.
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We should see better and more direct measurements of economic well being.
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Small businesses have played an important role in fueling past economic recoveries.
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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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Of course, economic forecasts must be revised when new information arrives and are thus necessarily provisional.
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High levels of homeownership have been shown to foster greater involvement in school and civic organizations, higher graduation rates, and greater neighborhood stability.
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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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These inflation effects should fade even if energy prices remain elevated, so long as monetary policy keeps inflation expectations well-anchored.