Ben Bernanke Quotes
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We benefit from foreign direct investment. Many Americans are employed by foreign companies with plants in the United States, for example in the automobile industry. So, trade is a two way street. I think, it is important to protect Americans who lose their jobs, or whose jobs come under pressure from international trade. But, I think, we need to be careful not to embrace economic isolationism.
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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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Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve System. I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again.
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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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The central bank needs to be able to make policy without short term political concerns.
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The GSEs are adequately capitalized. They are in no danger of failing.
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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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We see that coming back in the fourth quarter and going on into next year.
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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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In the future, my communications with the public and with the markets will be entirely through regular and formal channels.
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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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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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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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You want to put the fire out first and then worry about the fire code.
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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 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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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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The ultimate purpose of economics, of course, is to understand and promote the enhancement of well-being.
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Deflation is defined as a general decline in prices, with emphasis on the word '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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I and others were mistaken early on in saying that the subprime crisis would be contained. The causal relationship between the housing problem and the broad financial system was very complex and difficult to predict.
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Monetary policy is most effective when it is coherent, consistent and predictable as possible, while at all times leaving full scope for flexibility and the use of judgment as conditions may require.
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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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Growth in U.S. real imports slowed to about 3 percent in 2006, in part reflecting a drop in real terms in imports of crude oil and petroleum products.