Ben Bernanke Quotes
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House prices have risen by nearly 25 percent over the past two years. Although speculative activity has increased in some areas, at a national level these price increases largely reflect strong economic fundamentals.
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If you are asking me if I would advocate that the Chinese go to greater flexibility in their exchange rate, I certainly would.
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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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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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The people who best use their advantages, or overcome adversity, and work honestly are those most worthy of admiration.
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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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The children of the unemployed achieve less in school and appear to have reduced long-term earnings prospects.
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The actions taken by central banks and other authorities to stabilize a panic in the short run can work against stability in the long run if investors and firms infer from those actions that they will never bear the full consequences of excessive risk-taking.
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The banks have accounts with the Fed, much the same way that you have an account in a commercial bank.
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I think there's a good chance we'll dodge the bullet this time.
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Evolutionary psychologists suggest that humans experienced evolutionary benefits from brain developments that included aversion to loss and risk and from instincts for cooperation that helped strengthen communities.
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Because financially capable consumers ultimately contribute to a stable economic and financial system as well as improve their own financial situations, it's clear that the Federal Reserve has a significant stake in financial education.
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One may aspire to succeed Chairman Greenspan but it will not be possible to replace him.
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Congress had made clear that it has affirmed the principle of keeping banking and commerce separate. This loophole ... circumvents that principle. If Congress wants to revisit banking and commerce, that's their prerogative but it doesn't seem a good approach to allow a loophole in which that distinction breaks down.
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I will make continuity with the policies and policy strategies of the Greenspan Fed a top priority.
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As we try to make the financial system safer, we must inevitably confront the problem of moral hazard.
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The Federal Reserve is not currently forecasting a recession.
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Monetary policy has less room to maneuver when interest rates are close to zero, while expansionary fiscal policy is likely both more effective and less costly in terms of increased debt burden when interest rates are pinned at low levels.
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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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Monetary policy cannot do much about long-run growth, all we can try to do is to try to smooth out periods where the economy is depressed because of lack of demand.
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Many foreclosed homes are neglected or abandoned, as legal proceedings or other factors delay their resale. Deteriorating or vacant properties can, in turn, directly affect the quality of life in a neighborhood, for example, by leading to increases in vandalism or crime.
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Identity theft is a serious crime that affects millions of Americans each year.
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The economist John Maynard Keynes said that in the long run, we are all dead. If he were around today he might say that, in the long run, we are all on Social Security and Medicare.
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There is of course the direct impact of the shutting down of the U.S. economy, the loss of several hundred thousand jobs at least, and reduced output production in the Gulf.