Ben Bernanke Quotes
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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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Economic management involves the operation of economic frameworks in real time - for example, in the private sector, the management of complex financial institutions or, in the public sector, the day-to-day supervision of those institutions.
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Although I expect policy to follow the usual gradualist pattern, the pace of tightening will of necessity respond to evolving economic conditions, particularly the strength of the ongoing recovery in the labor market and developments on the inflation front.
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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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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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Different countries have different kinds of financial structures.
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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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I will make continuity with the policies and policy strategies of the Greenspan Fed a top priority.
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Identity theft is a serious crime that affects millions of Americans each year.
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We're much more data-driven. We need to continually re-evaluate our forecasts and think about the prospects for the economy and make our decisions based on what the information is that's coming into our hands.
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Our financial system is so complicated and so interactive - so many different markets in different countries and so many sets of rules.
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Central bankers got it right in the United States in 1987 when they avoided deflationary pressures as well as serious trouble in the banking system.
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The best approach here if at all possible is to use supervisory and regulatory methods to restrain undue risk-taking and to make sure the system is resilient in case an asset price bubble bursts in the future.
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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.
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Obviously, I haven't succeeded in defusing the political concerns about the Fed.
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If I am confirmed to this position, my first priority will be to maintain consistency and continuity with the policies established during the Greenspan 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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No economy can succeed without a high-quality workforce, particularly in an age of globalization and technical change.
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By not tying policy to a small set of forecast indicators, we may sacrifice some degree of simplicity, but we are less likely to be misled when a favored variable behaves in an unusual manner.
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Consumers going through foreclosure typically will see their credit scores drop, raising longer-term questions about their ability to rebound financially and perhaps pursue a more sustainable home purchase at some later point.
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If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.
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Monetary policy is not a panacea.
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Banks will have to win the confidence of their customers through fair dealing, making good loans, and remaining financially healthy.
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To be sure, the provision of liquidity alone can by no means solve the problems of credit risk and credit losses; but it can reduce liquidity premiums, help restore the confidence of investors, and thus promote stability.