Ben Bernanke Quotes
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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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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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I will make continuity with the policies and policy strategies of the Greenspan Fed a top priority.
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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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Because financially capable consumers ultimately contribute to a stable economic and financial system as well as improve their own financial situations, it's clear that the Federal Reserve has a significant stake in financial education.
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China is growing very quickly and is clearly becoming an important player in the world economy.
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We see that coming back in the fourth quarter and going on into next year.
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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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Monetary policy is not a panacea.
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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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I think there's a good chance we'll dodge the bullet this time.
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Different countries have different kinds of financial structures.
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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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Only a strong economy can create higher asset values and sustainably good returns for savers.
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So far, the actual actions taken have been relatively modest, but there is some hope, I think, that, going forward, these actions will advance further and we will see more progress in the current account.
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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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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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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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Stronger regulation and supervision aimed at problems with underwriting practices and lenders' risk management would have been a more effective and surgical approach to constraining the housing bubble than a general increase in interest rates.
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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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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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Monetary policy is a blunt tool which certainly affects the distribution of income and wealth, although whether the net effect is to increase or reduce inequality is not clear.
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There is a deficit; I'd like to see it lowered. But it's up to Congress to decide whether that should be done by higher taxes, lower spending or some combination.