Ben Bernanke Quotes
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I believe that the Federal Reserve's success in reducing and stabilizing inflation and inflation expectations is a major reason for this improved economic performance.
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The people who best use their advantages, or overcome adversity, and work honestly are those most worthy of admiration.
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There are a number of institutions globally where the Federal Reserve typically leads the U.S. effort to work with financial regulators from other countries, and we try to, to the extent possible, establish international standards for how - the amount of capital a bank should hold, for example, or how much.
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Community banks are generally doing quite well, and I expect that good performance to continue. Neither bankers nor their supervisors should become complacent.
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The public has shown confidence that any increases in inflation will be temporary and that, in the long run, inflation will remain low.
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Some influential voices of the time argued that by accepting higher inflation, policy-makers could bring about a permanently lower rate of unemployment.
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Home purchases that are very highly leveraged or unaffordable subject the borrower and lender to a great deal of risk. Moreover, even in a strong economy, unforeseen life events and risks in local real estate markets make highly leveraged borrowers vulnerable.
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Like gold, U.S. dollars have value only to the extent that they are strictly limited in supply. But 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. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services.
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In many spheres of human endeavor, from science to business to education to economic policy, good decisions depend on good measurement.
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If I am confirmed, I am confident that my colleagues on the Federal Open Market Committee and I will maintain the focus on long-term price stability as monetary policy's greatest contribution to general economic prosperity and maximum employment.
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Since World War II, inflation - the apparently inexorable rise in the prices of goods and services - has been the bane of central bankers.
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I don't think there are any students who should not be exposed to a basic financial literacy course.
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Smart financial planning - such as budgeting, saving for emergencies, and preparing for retirement - can help households enjoy better lives while weathering financial shocks. Financial education can play a key role in getting to these outcomes.
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The one thing people don't appreciate, I think, is that central banking is not a new development. It's been around for a very long time.
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It is not the responsibility of the Federal Bank - nor would it be appropriate - to protect lenders and investors from the consequences of their decisions.
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Economics is a very difficult subject. I've compared it to trying to learn how to repair a car when the engine is running.
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While rising delinquencies and foreclosures will continue to weigh heavily on the housing market this year, it will not cripple the U.S.
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When historical relationships are taken into account, it is difficult to ascribe the house price bubble either to monetary policy or to the broader macroeconomic environment.
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In the past, Federal Reserve chairmen have not generally gone directly to the public.
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Sector-specific price declines, uncomfortable as they may be for producers in that sector, are generally not a problem for the economy as a whole and do not constitute deflation.
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This step would in no way reduce the importance of maximum employment as a policy goal, ... In any case, I assure this committee that if I am confirmed, I will take no precipitate steps in the direction of quantifying the definition of long-run price stability. This matter requires further study at the Federal Reserve as well as extensive discussion and consultation.
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At the most basic level, a central bank must be clear and open about its actions and operations, particularly when they involve the deployment of public funds.
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[Virtual Currencies] may hold long-term promise, particularly if the innovations Promote a faster, more secure and more efficient payment system.
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It takes about two and a half percent growth just to keep unemployment stable.