Ben Bernanke Quotes
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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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I think at this point in time that the inverted yield curve is not signaling a slowdown.
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So far, the effects appear to be relatively modest on growth.
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Clearly it's going to affect the Gulf Coast economy quite a bit. You've had a lot of property damage. Basic services are down.
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In the future, my communications with the public and with the markets will be entirely through regular and formal channels.
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Developments in financial markets can have broad economic effects felt by many outside the markets.
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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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My first priority will be to maintain continuing with the policy and policy strategies under the Greenspan era.
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The impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained.
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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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Long-term unemployment is particularly costly to those directly affected, of course. But in addition, because of its negative effects on workers' skills and attachment to the labor force, long-term unemployment may ultimately reduce the productive capacity of our economy.
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The U.S. economy is in the midst of a strong and sustainable economic expansion.
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The stress on the financial system in the fall of 2007 was significant, but not so significant as to threaten the overall stability of the U.S. economy, although it did lead to the beginning of a recession at the end of 2007.
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We must ensure that the funds we commit are spent wisely and with careful oversight.
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Quantitatively, outsourcing abroad simply cannot account for much of the recent weakness in the U.S. labor market and does not appear likely to be an .important restraint to further recovery in employment.
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Banks need to continue to lend to creditworthy borrowers to earn a profit and remain strong.
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Certainly there is no way to direct the effects of monetary policy at a single class of assets while leaving other financial markets and the broader economy untouched. One might as well try to perform brain surgery with a sledgehammer.
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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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To minimize market uncertainty and achieve the maximum effect of its policies, the Federal Reserve is committed to providing the public as much information as possible about the uses of its balance sheet, plans regarding future uses of its balance sheet, and the criteria on which the relevant decisions are based.
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Neighborhoods and communities are complex organisms that will be resilient only if they are healthy along a number of interrelated dimensions, much as a human body cannot be healthy without adequate air, water, rest, and food.
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As long as we find that the energy impact is only temporary ... my guess is that the effects on the overall economy will be fairly modest.
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The tax code is very inefficient. Both the personal tax code and the corporate tax code. By closing loopholes and lowering rates, you could increase the efficiency of the tax code and create more incentives for people to invest.
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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 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.