Ben Bernanke Quotes
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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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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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Unfortunately there's nothing, really, that can be done that's going to affect energy prices or gasoline prices in the very short run.
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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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These are issues that we are going to have to address, because they are significant.
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A forecast about the future evolution of policy, not an unconditional commitment.
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Thus far, at least, the growth effects of energy price increases appear relatively modest.
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It's been a resilient economy, it's responded well and job creation has proceeded apace.
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I think most of us would agree that people who have, say, little formal schooling but labor honestly and diligently to help feed, clothe, and educate their families are deserving of greater respect - and help, if necessary - than many people who are superficially more successful.
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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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Indeed, in general, healthy investment returns cannot be sustained in a weak economy, and of course it is difficult to save for retirement or other goals without the income from a job.
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The amount of currency in circulation is not changing. The money supply is not changing in any significant way.
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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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Both humanity's capacity to innovate and the incentives to innovate are greater today than at any other time in history.
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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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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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Textbooks describe economics as the study of the allocation of scarce resources. That definition may be the 'what,' but it certainly is not the 'why.'
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In all likelihood, a significant amount of time will be required to restore the nearly eight and a half million jobs that were lost nationwide over 2008 and 2009.
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Until the job market improves, this recovery will not feel like a recovery to most Americans.
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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 no cost.
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Uncertainty is seen to retard investment independently of considerations of risk or expected return.
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For many of us, owning a home signaled a passage into adulthood that coincided with the start of a career and family.
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The world has a great deal more to offer than money.
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The economy is much more energy efficient today than it was in the 1970s when energy shocks contributed to share slowdowns.