Ben Bernanke Quotes
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If I am confirmed, I am confident that my colleagues on the Federal Open Market Committee and 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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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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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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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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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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To be sure, faster growth in nominal labor compensation does not necessarily portend higher inflation.
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The one thing people don't appreciate, I think, is that central banking is not a new development. It's been around for a very long time.
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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 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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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.
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I have spoken about deficits, and I think deficits are important because they address broad economic and financial stability. We need to talk about that.
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This necessary spending should not, however, jeopardize the president' long-term deficit-reduction goals.
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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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To support continued healthy growth, vigilance in regard to inflation is essential.
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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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I come from Main Street, from a small town that's really depressed.
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Economic engineering is about the design and analysis of frameworks for achieving specific economic objectives.
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There are some petroleum refineries that don't have crude and by allowing them to draw from the Strategic Petroleum Reserve they will be able to produce more gasoline.
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Inflation is up, driven by energy prices. Underlying core rates remain low, which is encouraging.
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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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Clearly, it's going to affect the Gulf Coast economy quite a bit.
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The role of liquidity in systemic events provides yet another reason why, in the future, a more system wide or macroprudential approach to regulation is needed.
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The failure of Lehman Brothers demonstrated that liquidity provision by the Federal Reserve would not be sufficient to stop the crisis; substantial fiscal resources were necessary.
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I'm... fairly optimistic today about the ability of the U.S. economy to absorb these body blows.