Ben Bernanke Quotes
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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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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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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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Of course, a decision to take no action at a particular meeting does not preclude action at subsequent meetings.
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If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.
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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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After the 1929 crash, the Federal Reserve mistakenly focused its policies on preserving the gold value of the dollar rather than on stabilizing the domestic economy.
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The resilience of the economy ... is helping it to absorb the shocks to energy and transportation from the hurricanes.
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Our mission as set forth by the Congress is a critical one.
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Obviously, I haven't succeeded in defusing the political concerns about the Fed.
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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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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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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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Remember that physical beauty is evolution's way of assuring us that the other person doesn't have too many intestinal parasites.
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The risk that the economy has entered a substantial downturn appears to have diminished over the past month or so.
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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.
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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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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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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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Has set the standard for excellence in economic policy-making.
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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.
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After several false starts, the economy is showing signs of sustained recovery.
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The policies and policy strategies established during the Greenspan years.
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The best approach here if at all possible is to use supervisory and regulatory methods to restrain undue risk-taking and to make sure the system is resilient in case an asset price bubble bursts in the future.