Ben Bernanke Quotes
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Doing this well requires a deep knowledge of the data mixed with a goodly dose of economic theory and economic judgment, ... Greenspan is, of course, a master.
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There are various estimates about the third quarter impact, ... Our CEA (Council of Economic Advisers) numbers are somewhere between a half and one percentage point on growth. That would still probably leave us at a decent rate of growth for the third quarter.
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In the typical economic recovery, a resurgent housing sector helps fuel reemployment and rising incomes.
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It's the price of success: people start to think you're omnipotent.
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You want to put the fire out first and then worry about the fire code.
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The basic prescription for preventing deflation is straightforward, at least in principle: Use monetary and fiscal policy as needed to support aggregate spending, in a manner as nearly consistent as possible with full utilization of economic resources and low and stable inflation. In other words, the best way to get out of trouble is not to get into it in the first place.
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According to government ethics rules ... it is permissible for a retired (Fed) 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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Well, optimism's a good thing. It - makes people go out and - you know, start businesses and spend and do whatever is necessary to get the economy going.
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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 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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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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China is growing very quickly and is clearly becoming an important player in the world economy.
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Our understanding of the best practice in monetary policy evolved during Alan Greenspan's tenure at the Fed, and it will continue to evolve in the future.
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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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The resilience of the economy ... is helping it to absorb the shocks to energy and transportation from the hurricanes.
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We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.
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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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Only a strong economy can create higher asset values and sustainably good returns for savers.
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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.
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When prices are stable, people can hold money for transactions and other purposes without having to worry that inflation will eat away at the real value of their money balances.
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[Virtual Currencies] may hold long-term promise, particularly if the innovations Promote a faster, more secure and more efficient payment system.
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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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The Federal Reserve is not currently forecasting a recession.
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If the fiscal cliff occurs, I don't think the Federal Reserve has the tools to offset that event.