Ben Bernanke Quotes
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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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The risk that the economy has entered a substantial downturn appears to have diminished over the past month or so.
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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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There will not be an automatic increase in interest rate when unemployment hits 6.5%.
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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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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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The policies and policy strategies established during the Greenspan years.
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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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Developments in financial markets can have broad economic effects felt by many outside the markets.
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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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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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We must ensure that the funds we commit are spent wisely and with careful oversight.
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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 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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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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Interest rates are used to achieve overall economic stability.
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If bankers become overly conservative in response to past lending mistakes - or if examiners force such behavior - it will hurt bankers' own long-term interests and the economy in general.
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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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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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I will maintain the focus on long-term price stability as monetary policy's greatest contribution to general economic prosperity and maximum employment.
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I assure this committee that, if I am confirmed, I will be strictly independent of all political influences... essential to that institution's ability to function effectively and achieve its mandated objectives.
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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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All the Federal Reserve can do is make loans against collateral.
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History proves... that a smart central bank can protect the economy and the financial sector from the nastier side effects of a stock market collapse.