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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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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September and October of 2008 was the worst financial crisis in global history, including the Great Depression.
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The inflation objective is explicitly a long-term or medium term objective. It focuses on, for example, core inflation to avoid getting involved in short-term fluctuations in energy prices and the like.
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Clearly, it's going to affect the Gulf Coast economy quite a bit.
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Interest rates are used to achieve overall economic stability.
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It's the price of success: people start to think you're omnipotent.
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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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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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I come from Main Street, from a small town that's really depressed.
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I'm... fairly optimistic today about the ability of the U.S. economy to absorb these body blows.
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Low and stable inflation in many countries is an important accomplishment that will continue to bring significant benefits.
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The movement toward a holistic approach to community development has been long in the making, but the housing crisis has motivated further progress.
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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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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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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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Market discipline can only limit moral hazard to the extent that debt and equity holders believe that, in the event of distress, they will bear costs.
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There is a deficit; I'd like to see it lowered. But it's up to Congress to decide whether that should be done by higher taxes, lower spending or some combination.
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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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If your uniform isn't dirty, you haven't been in the game.
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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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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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Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past were wrong. About the future, not so much.
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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.