Ben Bernanke Quotes
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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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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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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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So far, the effects appear to be relatively modest on growth.
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The policies and policy strategies established during the Greenspan years.
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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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Under Chairman Greenspan, monetary policy has become increasingly transparent to the public and the financial markets, a trend that I strongly support.
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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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Has set the standard for excellence in economic policy-making.
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Interest rates are used to achieve overall economic stability.
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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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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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Even if the economy recovers smartly for the rest of this year and the next, the ongoing slack in the economy may still lead to continuing disinflation.
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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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In the future, my communications with the public and with the markets will be entirely through regular and formal channels.
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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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Inflation is not even a remote risk in the U.S.. Because inflation is so low, monetary policy can afford to be patient to be sure that the recovery is sustained.
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We must ensure that the funds we commit are spent wisely and with careful oversight.
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The Federal Reserve will not monetize the debt.
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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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Economics has many substantive areas of knowledge where there is agreement, but also contains areas of controversy. That's inescapable.
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At this point, a leveling out or a modest softening of housing activity seems more likely than a sharp contraction, although significant uncertainty attends the outlook for home prices and construction.
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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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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.