Ben Bernanke Quotes
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Monetary policy is not a panacea.
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Only a strong economy can create higher asset values and sustainably good returns for savers.
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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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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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We see that coming back in the fourth quarter and going on into next year.
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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.
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Education - lifelong education for everyone - from toddlers to workers well advanced in their careers - is indeed an excellent investment for individuals and society as a whole.
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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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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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Deflation is defined as a general decline in prices, with emphasis on the word 'general.'
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The central bank needs to be able to make policy without short term political concerns.
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The Fed needs an approach that consolidates the gains of the Greenspan years and ensures that those successful policies will continue - even if future Fed chairmen are less skillful or less committed to price stability than Mr. Greenspan has been.
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A money-financed tax cut is essentially equivalent to Milton Friedman's famous 'helicopter drop' of money.
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I would argue that no financial instrument counted as regulatory capital should be allowed to receive any protection from losses.
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In the shorter term, the devastation wrought by Hurricane Katrina will have a palpable effect on the national economy.
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Of course, a decision to take no action at a particular meeting does not preclude action at subsequent meetings.
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If I am confirmed by the Senate I will do everything in my power, in collaboration with by Fed colleagues to help assure the continued prosperity and stability of the American economy.
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China is growing very quickly and is clearly becoming an important player in the world economy.
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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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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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The Federal Reserve has always recognized the importance of allowing markets to work, and government oversight of financial firms will never be fully effective without the aid of strong market discipline.
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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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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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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.