Ben Bernanke Quotes
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A.I.G. was even larger than Lehman, with a substantial presence in derivatives and debt markets, as well as in insurance markets.
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Deflation is defined as a general decline in prices, with emphasis on the word 'general.'
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My first priority will be to maintain continuing with the policy and policy strategies under the Greenspan era.
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If you take a candy bar in the short run, it gives you a burst of energy, but after a while, it just makes you fat.
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The U.S. economy is in the midst of a strong and sustainable economic expansion.
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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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I'd throw dollars out of helicopters if I had to, to stimulate the economy.
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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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I personally would have preferred if the Fed had been a little less aggressive.
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I came home from school one day, and there was a phone call for me. And I picked up the phone. They said, 'This is the Harvard Admissions Department. We'd like to let you know that you're accepted in the freshman class.' And I said, 'Come on, who is this really?`
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It's the price of success: people start to think you're omnipotent.
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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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These policies include making tax relief permanent, reducing the budget deficit by limiting spending, strengthening retirement and health security through efforts like Social Security reform ... and enhancing energy security.
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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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Market discipline can only limit moral hazard to the extent that debt and equity holders believe that, in the event of distress, they will bear costs.
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The American people are among the most productive in the world. We have the best technologies. We have great universities. We have entrepreneurs.
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Banks need to continue to lend to creditworthy borrowers to earn a profit and remain strong.
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I think that having good data, good statistics-and the United States generally has better macroeconomic statistics than most countries-and having good economists to interpret those data and present the policy alternatives, has a substantially beneficial effect on policymaking in the United States.
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People saw the Depression as a necessary thing - a chance to squeeze out the excesses, get back to Puritan morality. That just made things worse.
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I think at this point in time that the inverted yield curve is not signaling a slowdown.
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Given the central role of effective, firmwide risk management in maintaining strong financial institutions, it is clear that supervisors must redouble their efforts to help organizations improve their risk-management practices...We are also considering the need for additional or revised supervisory guidance regarding various aspects of risk management, including further emphasis on the need for an enterprise-wide perspective when assessing risk.
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The policies and policy strategies established during the Greenspan years.
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No one will lend at a negative interest rate; potential creditors will simply choose to hold cash, which pays zero nominal interest.
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The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.