Ben Bernanke Quotes
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The Federal Reserve Act requires the Federal Reserve to report annually on its operations and to publish its balance sheet weekly.
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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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To achieve a more balanced international system over time, countries with excessive and unsustainable trade surpluses will need to allow their exchange rates to better reflect market fundamentals.
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I don't see much evidence of an equity bubble.
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As long as there's not permanent damage to our energy infrastructure, the effects on the overall economy should be fairly modest.
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Investment banks manage to go bankrupt through their investment-banking activities, commercial banks manage to go bankrupt through their commercial-banking activities.
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Middle-income living standards, and poverty for that matter, are best addressed through employment growth. By maintaining low inflation and low expectations of inflation, you can create new employment.
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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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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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With such an uncertain outlook, the new statement must be flexible enough to leave officials with several options for future action.
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No economy can succeed without a high-quality workforce, particularly in an age of globalization and technical change.
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If Wall Street crashes, does Main Street follow? Not necessarily.
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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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Monetary policy is not a panacea.
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I personally would have preferred if the Fed had been a little less aggressive.
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One may aspire to succeed Chairman Greenspan but it will not be possible to replace him.
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Certainly, 9 percent unemployment and very slow growth is not a good situation.
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Equally important, stable prices allow people to rely on the dollar as a measure of value when making long-term contracts, engaging in long-term planning or lending for long periods.
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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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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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Those high oil prices are a burden on U.S. families, on firms' production costs. But the good news is that at least so far the U.S. economy has not been slowed by the high energy prices.
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Evolving technologies that allow economists to gather new types of data and to manipulate millions of data points are just one factor among several that are likely to transform the field in coming years.
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These policies include making tax relief permanent, reducing the budget deficit by limiting spending, strengthening retirement and health security through efforts like Social Security reform ... and enhancing energy security.
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The Depression was an incredibly dramatic episode - an era of stock-market crashes, breadlines, bank runs and wild currency speculation, with the storm clouds of war gathering ominously in the background... For my money, few periods are so replete with human interest.