Ben Bernanke Quotes
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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.
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Might have done much more harm than good.
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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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To the extent that bank panics interfere with normal flows of credit, they may affect the performance of the real economy.
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I would argue that no financial instrument counted as regulatory capital should be allowed to receive any protection from losses.
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Preventing liquidation of an unbalanced market will leave you in tears.
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The more guidance a central bank can provide the public about how policy is likely to evolve the greater the chance that market participants will make appropriate inferences.
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Not all information is beneficial.
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Economics has many substantive areas of knowledge where there is agreement, but also contains areas of controversy. That's inescapable.
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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.
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I am going to begin now a practice of not making recommendations on specific tax and spending proposals.
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After several false starts, the economy is showing signs of sustained recovery.
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I was a professor at Princeton University. And, in that capacity, I studied for many years the role of financial crisis in the economy.
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History has demonstrated time and again the inherent resilience and recuperative powers of the American economy.
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The U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost.
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These are issues that we are going to have to address, because they are significant.
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Among the largest banks, the capital ratios remain good and I don’t expect any serious problems . . . . among the large, internationally active banks that make up a very substantial part of our banking system.
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...the Federal Reserve has the capacity to operate in domestic money markets to maintain interest rates at a level consistent with our economic goals.
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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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I am particularly pleased to see that the Bendheim Center for Finance is thriving.
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The Fed's policy choices can always be debated, but the quality and commitment of the Federal Reserve as a public institution is second to none, and I am proud to lead it.
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Long term, I have a lot of confidence in the United States. We have an excellent record in terms of innovation. We have great universities that are involved in technological change and progress. We have an entrepreneurial culture, much more than almost any other country.
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Well, the U.S., of course, is the world's largest economy. It's about a quarter of the world's output. It's also home to many of the largest financial institutions and financial markets.
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The financial crisis that began in the summer of 2007 was an extraordinarily complex event with multiple causes.