Ben Bernanke Quotes
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In the future, my communications with the public and with the markets will be entirely through regular and formal channels.
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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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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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One may aspire to succeed Chairman Greenspan but it will not be possible to replace him.
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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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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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If Wall Street crashes, does Main Street follow? Not necessarily.
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I assure this committee that, if I am confirmed, I will be strictly independent of all political influences... essential to that institution's ability to function effectively and achieve its mandated objectives.
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The Fed is totally open.
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I think there's a good chance we'll dodge the bullet this time.
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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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I personally would have preferred if the Fed had been a little less aggressive.
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If bankers become overly conservative in response to past lending mistakes - or if examiners force such behavior - it will hurt bankers' own long-term interests and the economy in general.
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Monetary policy is not a panacea.
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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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We see that coming back in the fourth quarter and going on into next year.
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After a long period in which the desired direction for inflation was always downward, the industrialized world's central banks must today try to avoid major changes in the inflation rate in either direction.
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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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It takes about two and a half percent growth just to keep unemployment stable.
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Building a rainy-day fund during good times may not be politically popular, but it can pay off during the bad times.
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Obviously, I haven't succeeded in defusing the political concerns about the Fed.
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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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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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I got into economics because I wanted to make things better for the average person.