Ben Bernanke Quotes
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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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In fact, the world needs more nerds.
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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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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 am particularly pleased to see that the Bendheim Center for Finance is thriving.
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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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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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Providing quantitative guidance about the meaning of 'long-term price stability' could have several advantages, including further reducing public uncertainty about monetary policy and anchoring long-term inflation expectations even more effectively.
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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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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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The high energy prices are certainly burdening consumer budgets, they are burdening cost structures of firms and certainly continued increases in energy prices are a risk for economic growth going forward.
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He lived with us for 24 years, ... He studied with us.
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Not all information is beneficial.
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Of course, economic forecasts must be revised when new information arrives and are thus necessarily provisional.
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There are two possible mistakes: One is to go on too long, and one is not to go on long enough. And, it's a very difficult balancing act.
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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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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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We’ve never had a decline in house prices on a nationwide basis. So, what I think what is more likely is that house prices will slow, maybe stabilize, might slow consumption spending a bit. I don’t think it’s going to drive the economy too far from its full employment path, though.
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Might have done much more harm than good.
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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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Although low inflation is generally good, inflation that is too low can pose risks to the economy - especially when the economy is struggling.
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Speaking as somebody who has been happily married for 35 years, I can't imagine any choice more consequential for a lifelong journey than the choice of a traveling companion.
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Under a paper-money system, a determined government can always generate higher spending and hence positive inflation.
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Nobody likes to fail but failure is an essential part of life and of learning. If your uniform isn't dirty, you haven't been in the game.