Ben Bernanke Quotes
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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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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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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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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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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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I personally would have preferred if the Fed had been a little less aggressive.
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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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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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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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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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The U.S. economy is in the midst of a strong and sustainable economic expansion.
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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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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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I'd throw dollars out of helicopters if I had to, to stimulate the economy.
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I think one of the lessons of the Depression - and this is something that Franklin Roosevelt demonstrated - was that when orthodoxy fails, then you need to try new things. And he was very willing to try unorthodox approaches when the orthodox approach had shown that it was not adequate.
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It's the price of success: people start to think you're omnipotent.
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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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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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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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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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So far, the effects appear to be relatively modest on growth.
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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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The policies and policy strategies established during the Greenspan years.