Ben Bernanke Quotes
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The crisis in Europe has affected the U.S. economy by acting as a drag on our exports, weighing on business and consumer confidence, and pressuring U.S. financial markets and institutions.
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If the fiscal cliff occurs, I don't think the Federal Reserve has the tools to offset that event.
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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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Clear communication is always important in central banking, but it can be especially important when economic conditions call for further policy stimulus but the policy rate is already at its effective lower bound.
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It's true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles.
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If your uniform isn't dirty, you haven't been in the game.
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After the 1929 crash, the Federal Reserve mistakenly focused its policies on preserving the gold value of the dollar rather than on stabilizing the domestic economy.
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The economic repercussions of a stock market crash depend less on the severity of the crash itself than on the response of economic policymakers, particularly central bankers.
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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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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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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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Interest rates are used to achieve overall economic stability.
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Deflation can be particularly dangerous when a financial system is shaky, with household and corporate balance sheets in poor shape and banks undercapitalized and heavily burdened with bad loans.
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The risk exists that, with aggregate demand exhibiting considerable momentum, output could overshoot its sustainable path, leading ultimately in the absence of countervailing monetary policy action to further upward pressure on inflation.
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Low marginal tax rates are supportive of economic growth. I would submit that we would want to look very hard at government spending - make sure it's controlled - before we raise taxes, which, in turn, would have negative impacts on the economy.
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We must ensure that the funds we commit are spent wisely and with careful oversight.
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Economic engineering is about the design and analysis of frameworks for achieving specific economic objectives.
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We benefit from foreign direct investment. Many Americans are employed by foreign companies with plants in the United States, for example in the automobile industry. So, trade is a two way street. I think, it is important to protect Americans who lose their jobs, or whose jobs come under pressure from international trade. But, I think, we need to be careful not to embrace economic isolationism.
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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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There appears to be some possibility that the recent trend toward disinflation will continue, primarily because of the potentially large amount of economic slack in the system.
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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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I think it's generally a bad idea for the Fed to be the arbiter of asset prices. The Fed doesn't really have any better information than other people in the market about what the correct value of asset prices is.
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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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It must be awfully frustrating to get a small raise at work and then have it all eaten by a higher cost of commuting.