Ben Bernanke Quotes
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I got into economics because I wanted to make things better for the average person.
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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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In the shorter term, the devastation wrought by Hurricane Katrina will have a palpable effect on the national economy.
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The ultimate purpose of economics, of course, is to understand and promote the enhancement of well-being.
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The central bank needs to be able to make policy without short term political concerns.
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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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To avoid large and unsustainable budget deficits, the nation will ultimately have to choose among higher taxes, modifications to entitlement programs such as Social Security and Medicare, less spending on everything else from education to defense, or some combination of the above.
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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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Deflation is defined as a general decline in prices, with emphasis on the word 'general.'
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Monetary policy is not a panacea.
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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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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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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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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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According to government ethics rules and FOMC rules, it is permissible for a retired governor to speak in public about the economy, so long as he or she does not divulge confidential information. I have no indication that he has violated that rule.
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As an educator myself, I understand the profound effect that good teachers and a quality education have on the lives of our young people.
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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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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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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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Among other objectives, liquidity guidelines must take into account the risks that inadequate liquidity planning by major financial firms pose for the broader financial system, and they must ensure that these firms do not become excessively reliant on liquidity support from the central bank.
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There will not be an automatic increase in interest rate when unemployment hits 6.5%.
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Our mission as set forth by the Congress is a critical one.
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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.